Cumbria Waste PPP
£72m total financing
4th June 2009
Shanks and Cumbria County Council have today reached Financial Close on a 25-year £720m PPP waste management transaction, requiring £72m of total financing.
DWPF acted as financial adviser to Shanks, securing financing for the transaction despite the current market turbulence. Senior debt will be provided by Barclays, NIBC and SMBC, enabling a number of new facilities to be built to process around 220,000 tonnes per year of Cumbria’s waste.
DWPF supported Shanks through the entire procurement programme, from outline solution stage to preferred bidder and now Financial Close.