Financial close on Phase One of the Leeds BSF programme was reached today.
Phase One of the Leeds BSF programme involves the rebuilding of four secondary schools (Allerton High, Allerton Grange, Pudsey Grangefield and Rodillian) and the refurbishment and part construction of two secondary schools (Cockburn and Temple Moor).
The project has a capital value of £100m with the majority shareholder, E4L, consisting of Interserve, Barclays Private Equity and Mott MacDonald. Leeds City Council and BSFI hold the remaining stake in the project, which took only three and a half months from preferred bidder stage to financial close, making it the fastest BSF scheme to date.
Operis’s role was to provide financial model due diligence on behalf of SMBC and the shareholders.
