Barnsley BSF – Phase Two Senior Debt Refinancing
FC for Refinancing
6th April 2017
DWPF acted as financial advisor to the Barnsley SPV Two Ltd, the project company owned by Equitix, INPP, Barnsley Council, and the Barnsley LEP, on the refinancing of this PFI project.
The concession, which was originally signed in April 2010, comprised the design, build and partial operation of the Shafton Advanced Learning Centre, and Springwell Community Special School. Senior debt funding was provided on an equal basis by Nord LB and Nationwide Building Society.
The refinancing involved Nord increasing its commitment to 100% of the senior funding requirement whilst also reducing margins significantly from their original levels. The Council benefited from the refinancing via an ongoing reduction to its Unitary Charge.