The second stage of the Tameside Building Schools for the Future (BSF) reached financial close on 9 April 2010. Carillion Private Finance and Building Schools for the Future Investments (BSFI) are working together with Tameside Metropolitan Borough Council to deliver the project involving approximately £65 million in capital cost and the construction of five schools over an expected 32 month construction period.
The five schools, Hyde Technology School, Dale Grove, KS4 Globe Lane, Denton Community College and Denton Key Stage 3, will be privately financed by bank debt and equity. Barclay’s and Dexia will each provide half of the £70 million of senior debt finance. As well as constructing the new schools, Carillion will also be providing facilities management services for the five schools, worth approximately
£50 million in nominal value over the 25-year operations period.
Operis provided financial modelling services to Carillion Private Finance.