20th Mar 2015 07:48
LONDON (Alliance News) - International Public Partnerships Ltd on Friday said the Amber Consortium has reached financial close on the second privately-financed batch of schools delivered under the Priority Schools Building Programme.
The consortium comprises FTSE 250-listed INPP alongside Aviva Investors, the investment management arm of FTSE 100-listed insurer Aviva PLC, with senior debt financing provided by the European Investment Bank.
The second tranche of funding will support the development of seven secondary schools on existing sites in Hertfordshire, Luton and Reading. INPP will fund around GBP10.2 million of the GBP137 million in funding the consortium will provide for the batch.
The residual funding will be provided by the project sponsors on the batch, including Interserve PLC's Interserve Construction Ltd, Kajima Partnerships Ltd and IUK Investments Ltd.
By Sam Unsted; [email protected]; @SamUAtAlliance
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