International Public Partnership Ld Schools Building Programme Funding Scheme Close (2673W)
November 05 2014 - 11:08AM
UK Regulatory
TIDMINPP
RNS Number : 2673W
International Public Partnership Ld
05 November 2014
5 November, 2014
INPP reaches commercial close on Priority Schools Building
Programme 'Aggregator' funding scheme
International Public Partnerships Limited (INPP) is pleased to
note the announcement made by the UK Education Funding Agency (EFA)
the Amber Consortium, of which INPP is part, has reached commercial
close on the funding scheme to five batches of schools being
delivered through the Priority Schools Building Programme (PSBP).
The commercial close follows the signing of the Funding Procurement
Agreement with the EFA and is an important step towards achieving
financial close on the underlying schools projects.
The Priority School Building Programme is a centrally managed
government programme set up to address the needs of the schools
most in need of urgent repair. Through the programme, 261 schools
will be rebuilt or have their condition needs met by the Education
Funding Agency (EFA), with all schools within the programme
delivered by the end of 2017.
As part of the programme, 46 schools in five batches with a
value of circa GBP700m are being delivered via private finance
funding using the PF2 structure - the government's new approach to
private finance. These will be financed by the Amber Consortium,
which includes INPP and Aviva Investors, with EIB also providing
senior debt. INPP expects to provide up to GBP78 million of this
funding as each batch reaches financial close over the next 12
months.
Further details will be provided as each financial close date is
reached.
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0)20 3 727 1046 / 1039
FTI Consulting
Notes to Editors:
About the Priority Schools Rebuilding Programme
Further information about the programme is available at:
www.gov.uk/government/publications/psbp-overview/priority-school-building-programme
About International Public Partnerships (INPP)
International Public Partnerships (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP), private finance initiative (PFI), regulated
asset and other similar procurement methods.
Listed in 2006, INPP is a long-term investor in 115 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and utility and transmission
projects in the U.K., Europe, Australia and Canada. INPP seeks to
provide its shareholders with both a long-term yield and capital
growth through investment across both construction and operational
phases of 25-40 year concessions.
Amber Infrastructure Group (Amber) is the Investment Advisor to
INPP and consists of over 75 dedicated staff who manage, advise on
and originate projects for INPP.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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