The Greenwich BSF project reached financial close on 4 December 2009.
The £103 million project, authorised by the London Borough of Greenwich, consists of rebuilding Thomas Tallis and Crown Woods schools. The schools have staged operating start dates, with Phases One and Two of Crown Woods starting on 26 April 2011 and 23 January 2012 respectively, and Phases One and Two of Thomas Tallis starting on 31 October 2011 and 11 June 2012 respectively.
VT Education and Skills were named preferred bidder in May 2006. Grant Thornton acted as financial advisor to the sponsors, with Pinsent Masons providing legal advice. Financial advice for the Authority was provided by Navigant Consulting. Senior debt financing is being provided by Barclays Bank, Lloyds TSB and the Royal Bank of Scotland. The sponsors will provide £13 million of subordinated debt.
Operis was engaged to provide financial model auditing services and a full tax and accounting review on behalf of the funders and sponsors.
