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Submitted by kevin.jordan1 on Sun, 05/02/2012 - 20:30
This note considers: (a) issues for the public sector in giving consent to a refinancing, namely: i) maximum level of senior debt, and ii) increased termination liabilities. (b) other issues which may arise for the public sector entity at the time of a refinancing, and for which further consents are required, namely: i) contract amendments, and ii) contract extensions.
Submitted by kevin.jordan1 on Fri, 23/11/2012 - 14:37
The Norfolk & Norwich University Hospital NHS Trust implemented one of the first PFI hospital contracts let in January 1998. The contract was a pathfinder deal which helped the Department of Health to establish a new market in PFI hospital procurement. This report looks at the refinancing of the transaction.
Submitted by kevin.jordan1 on Sun, 21/10/2012 - 13:40
This report examines:i) how the level of debt refinancing gains which the Government has secured compares with expectations; ii) how well the new arrangements to share debt refinancing gains have been working; iii) whether there are any risks for authorities from debt refinancings; and iv) how the maturing PFI market is affecting the use of equity capital in PFI projects
Submitted by kevin.jordan1 on Wed, 19/09/2012 - 14:55
The report looks at the thinking behind the sharing of refinancing gains between the public and private sector. In summary the NAO found that:! early PFI deals: public sector were generally securing 30 per cent of future gains where there was no contractual entitlement and for new deals subject to revised guidance the benefits of refinancings will be shared 50/50.
