Carillion and Wolverhampton City Council have successfully reached financial close for the Wolverhampton BSF phase 2 PFI project. This project involves the construction of two new schools, Heath Park and Deansfield, to be ready in time for the school year commencing in September 2015.
This milestone effectively represents the end to the UK’s Building Schools for the Future programme. Although the Secretary of State for Education announced in 2010 that the entire BSF scheme was to be cancelled, yesterday’s financial close for Wolverhampton BSF phase 2 was possible given the earlier phase 1 had begun two months before the cancellation decision was made, leaving it eligible to continue to financial close.
Operis provided financial advisory services, including financial modelling, to Carillion, the majority shareholder of the Inspiredspaces Wolverhampton consortium. Aviva provided a term loan and equity bridge loan as part of the financing package.
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Further information on Operis:
Operis is a leading advisor in project and infrastructure finance, renowned for its financial modelling and model auditing expertise and financial structuring advice. The firm has been mandated by the leading investment banks, infrastructure funds, bond arrangers and guarantor bodies around the world. This experience covers over 700 projects and other funded transactions worldwide.
Contact:
Paul Myers – Managing Director
+44 (0)20 7562 0400
