Regenter Myatts Field North, the Equitix-backed project company for the Myatts Field North PFI project in Brixton, London, has successfully achieved financial close on the refinancing of its senior debt.
The project company was established to regenerate the Myatts Field North Estate, including hundreds of new homes, including council homes and affordable (shared ownership) homes, new street, green spaces, play areas, a new community centre, a new energy plant to provide more reliable and efficient heating and hot water and a new local store and refurbished commercial units. The project originally reached financial close in May 2012, with construction completed in March 2017.
Operis was pleased to have provided financial advisory and tax and accounting services to Regenter Myatts Field North for the refinancing, which involved replacing the existing term loan and associated facilities provided by Nord LB, Co-Operative Bank, Nationwide and M&G with a new senior loan from Aviva Investors.
Darryl Ooi, Director in Operis’s Advisory Team said: “We are glad to have supported Equitix on once again achieving a successful refinancing, delivering value to both shareholders and Lambeth Council.”
