University of Kent transaction reaches financial close

DWPF advised UPP on a student accommodation project for The University of Kent.

DWPF acted as financial adviser for UPP's second transaction with the University of Kent that reached financial close on 26th October.  The project required total financing of c£25m and will provide 495 new study bedrooms on the University's Canterbury Campus to be delivered for the start of the 2012/13 academic year.  Senior debt was provided by the Royal Bank of Scotland.  This transaction follows an earlier student accommodation transaction closed in 2007 where DWPF also acted as financial adviser.

NTU Gervase Scheme reaches financial close

Debt raised to finance student accommodation project for UPP and Nottingham Trent University.

DWPF raised the finance for UPP's fourth transaction with Nottingham Trent University that reached financial close on 17 May 2010.  The project will provide new study bedrooms and studios on the University's Clifton Campus.  The rooms will be delivered for the start of the 2011/12 academic year and are expected to be in high demand given the shortage of rooms on this campus.  Senior debt was provided by the Bank of Ireland.

DWPF Shortlisted for PPF Awards 2010

DWPF nominated for Best Financial Adviser Award

The 12th Public Private Finance Awards will take place at The Hilton, Park Lane on 13th May where the winners will be announced.

Financial Close for Library PFI

Galliford Try reaches financial close on the £60m Worcester Library and History Centre project.

DWPF acted as Financial Adviser to Galliford Try on the project to develop this fully integrated public and university library which will be the first of its kind in the UK.  The scheme will also include the county archives and records office, history centre, archaeology service, multi-agency customer service centre in addition to commercial and retail space.

DWPF provides financial advice to Commonwealth Bank of Australia (CBA)

DWPF advised CBA on the sale of its indirect equity and subordinated debt investments in two important PFI healthcare projects.

The healthcare PFIs were in respect of:

The Royal Hospital of Bartholomew (Barts) and the Royal London Hospital hospitals.  The project, still in construction, is the largest PFI Hospital project undertaken in the UK to date with a project value of £1.7bn, and,

The Freeman Hospital and the Royal Victoria Infirmary hospitals.  The project, also in construction, is the largest PFI hospital project in the North East of England with a project value of £400m.

DWPF worked closely with CBA throughout the process to ensure maximum value from the sales.

Project reaches Financial Close

Further student accommodation transaction in Nottingham.

DWPF acted as financial adviser to its client, University Partnerships Programme (UPP) on a new transaction with the University of Nottingham.  The overall £115 transaction relates to the Broadgate Park student accommodation scheme and includes the revision of existing financing alongside additional funding.  This further transaction enables DWPF's client to enhance their existing scheme and to finance an 850 bedroom refurbishment programme.  Senior lender facilities were provided by Barclays, Royal Bank of Scotland and Bank of Scotland.

Phase Two Financial Close

Student accommodation at the University of Exeter.

Following on from the initial financial close in September 2009, DWPF acted as financial adviser to UPP (University Partnerships Programme) on the pre-planned second phase Financial Close of this student accommodation project at Exeter.  This second phase consolidated upon project and financing commitments previously provided at the initial financial close.

New Employee - Natalie May

Natalie joined DWPF in September 2009 and ensures the smooth running of the London office.

For more information on Natalie's profile, see here.

Financial Close

Student accommodation at the University of Exeter.

DWPF acted as financial adviser to UPP (University Partnerships Programme) on a student accommodation project which will provide new build accommodation for students at Exeter in additon to the transfer of existing rooms at the University.  This project is based at the University's main Streatham campus.  Senior debt commitments of up to £112m have been provided to the project by Barclays and the Royal Bank of Scotland on a joint basis.

Cumbria Waste PPP reaches Financial Close

Shanks and Cumbria County Council have today reached Financial Close on a 25-year c£720m PPP waste management transaction.

DWPF acted as financial adviser to Shanks, securing financing for the transaction during the current market turbulence. DWPF have supported Shanks through the entire procurement programme, from initial bids to preferred bidder and now Financial Close, running numerous financial models and scenarios to ensure an optimum financial solution for the project. 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.

Galliford Try appointed Preferred Bidder on PFI project

DWPF are acting for Galliford Try on the £60m PFI project to develop the Worcester Library and History Centre.

Construction on site is expected to begin in October 2009 with completion expected by January 2012. Worcester County Council is the procuring Authority, in partnership with the University of Worcester.

Financial model for major infrastructure fund

DWPF have completed the design and build of an operating model for a major infrastructure investment fund.

The bespoke financial model consolidates the funds' investments in the individual SPV's and enables management to track actual performance, produce management reports and forecast exit strategies under various scenarios.

Realisation of PFI Investment Value

Advisory services assisting the disposal of PFI investments.

DWPF has successfully completed an advisory mandate relating to the disposal of shareholder interests within a PFI project. This mandate included the provision of options appraisal, modeling and advisory services across a range of projects. Whilst this opportunity focused on realisation of value, DWPF's experience spans both acquisition and disposal activities.

Operational model for 3i Infrastructure Ltd

DWPF have completed the design and build of an operational model for 3i Infrastructure Ltd

The bespoke model gives management the ability to track actual results versus budget, consolidating performance of a number of multi-currency operating companies in order to produce variance analysis and summary information for management, as well as the required compliance information for lenders.

Projects reach Financial Close

Refinancing of University Partnerships Programme schemes at Oxford Brookes and Reading Universities

On 11 November 2008, DWPF and its client the University Partnerships Programme achieved financial close on the refinancing of two student accommodation projects at Oxford Brookes and Reading Universities. New senior debt facilities of c.£70m, provided by Barclays Bank’s Property and Project Finance Team, were arranged by DWPF in a transaction which has enabled its client to conclude its complex group restructuring.

Competitive Bidding Success

University of Exeter announces Accommodation deal

DWPF’s client University Partnerships Programme has been selected as the preferred bidder for a major “on campus” student accommodation project at the University at Exeter. This significant scheme will include both the redevelopment of existing buildings together with additional new build requirements. The project comprises of a number of sites within the University’s Streatham campus and is part of a major investment and campus development programme being carried out by the University.

New Employee - Alex Todhunter

Alex joined the DWPF graduate scheme in October 08 after completing a Theoretical Physics degree at Imperial College London

For more information on Alex, see his profile here.

DWPF 10th Anniversary

DWPF Ltd reaches a milestone of 10 years in business and celebrates with a memorable evening reception at the House of Commons

To view pictures from the evening, please click here

Financing at Nottingham

Student accommodation refinancing and restructuring transaction reaches financial close.

DWPF acted as financial adviser to UPP (University Partnership Programme) on a restructuring and refinancing project which has reached financial close. The transaction involved the amalgamation, restructuring and refinancing of two existing student residential accommodation schemes, comprising over 2700 student letting bedrooms located within Nottingham. The financing relates to a well established private / public sector partnership scheme with Nottingham Trent University and required total financing in the region of £100m.

UPP Leeds Metropolitan II

Financial close reached on student accommodation PPP

DWPF acted as financial adviser on UPP’s second transaction with Leeds Metropolitan University. The transaction, with £25M of total financing, involves the construction of 479 new rooms under a 35-yr partnership with the University.

Operational Model

DWPF completes operational model for major PFI sponsor

DWPF completes operational model for HOCHTIEF PPP Solutions (UK) to track the performance of a PFI transaction and monitor compliance against banking covenants.

Financing at Plymouth

Accommodation refinancing transaction reaches financial close

DWPF, acting as financial adviser to UPP (University Partnership Programme), reached financial close on the refinancing of student accommodation in Plymouth. The transaction involved 4 existing schemes comprising a 1740 room public private sector partnership with the University of Plymouth, involving £70m of total financing.

Portfolio Refinancing

Financial close reached on refinancing a portfolio of accommodation transactions

DWPF acted as financial advisers for UPP (University Partnership Programme) on a portfolio refinancing project which has successfully reached financial close. The transaction involved 5 existing schemes with different University partners and c£140m of total financing.

Waste Sector PFI

DWPF is current acting as financial adviser for a leading waste management company

We are providing financial advice and modelling services to this company through all stages of the bidding process on the 25-yr project with a capital value c.£70M.

Competitive Dialogue

DWPF is supporting a major client in a primary bid on a Council PFI accommodation project

Acting as financial adviser, DWPF is supporting a major sponsor in regard to an ITPCD bidding transaction. 

Waste to Energy start up

DWPF are providing initial financial advice to this start-up company.

We are providing financial advice on initial structuring and sourcing of finance for this c.£50M project that invests in new processes over a 25yr period within this sector.

Africa Infrastructure Projects

DWPF appointed to evaluate viability of infrastructure projects

The projects, located on the African continent, are at the early stages of planning. DWPF have commenced inital analysis of revenues, costs and potential funding terms to produce initial financial models to help determine viability of the projects.

Refinancing of PFI Assets

DWPF has been engaged to advise on the refinancing of a portfolio of assets

The portfolio covers a numbers of sectors namely health, defence, education and custodial services. DWPF are seeking improved financing efficiencies and improved shareholder returns.

Property Model

DWPF have been engaged to build a property portfolio model

DWPF have been engaged by a Client to build an operational model for a portfolio of property transactions. The model will enable forecast figures to be updated with actuals, and will track performance against banking covenants.

Equity Valuation

DWPF assists a major infrastructure fund with potential acquisition of PFI stake

A leading infrastructure investor has retained DWPF to assist in the valuation of the equity and sub debt in an operational PFI project. DWPF provided modelling support and structural advice throughout the bidding process.

James Gable

James joined the DWPF graduate trainee scheme in January 2008 after completing a Mathematics degree at Warwick University.

For more information on James, see his profile here

Financial close for UPP Kent

Financial Close for new build transaction in student accommodation sector

DWPF acted as financial adviser to UPP (University Partnership Programme) on the UPP Kent transaction which has reached financial close. The transaction, with £28M of total financing, involves the construction of 544 new rooms under a 50-year partnership agreement with the University of Kent.

Combined Financing and Refinancing at York

Acquisition of student accommodation and refinancing of existing facilities reaches financial close

DWPF acted as financial adviser to UPP (University Partnership Programme) on this project, which has reached financial close with the University of York. The transaction involved the refinancing of an existing scheme and the transfer of further accommodation from the University to create an overall 1044 room, 50-year partnership with £44m of total financing.

Equity Disposal

DWPF assisted client on potential equity disposal

DWPF assisted a client with the valuation of a PFI equity stake and prepared an Information Memorandum for the potential sale of the asset.

Financial Close for UPP Loughborough

Financial Close of accommodation project at Loughborough

Acting as financial adviser to UPP (University Partnership Programme) DWPF advised in the completion of this 1300 room student accommodation project located on campus at the University of Loughborough. Approximately £60m of private finance has been invested in this project which will commence operation in 2008.

Financial Close for UPP Lancaster

Refinancing and new build PPP at Lancaster University reaches Financial Close

The project will see just under 1000 additional student rooms constructed, ready for occupation for the 08/09 academic year. As a part of the transaction, the financing for the existing UPP accommodation at Lancaster University was also refinanced, and leases were extended for an additional 10 years. DWPF structured and arranged the financing for the project.

Bespoke Financial Modelling Services

DWPF provided post financial close modelling services

DWPF acted as financial adviser to HOCHTIEF PPP Solutions on the Manchester Schools Project and provided remodelling services to take into account amendments to the underlying project.

Action to Unlock Value

Andrew Date talks to The PFI Journal issue 55 about PFI/PPP debt refinancing.

To read the full article, click here.

Galliford Try PFI Investments

Valuation of PFI equity stakes performed by DWPF

DWPF have assisted Galliford Try in the valuation of a number of their equity investments in PFI transactions

Financial Modelling Work

DWPF has been engaged to build a financial model to aid valuation of a private equity fund

The fund consists of a number of investments in Public Private Partnership transactions. The Shareholders have engaged DWPF to produce a financial model to consolidate the individual transactions, enabling detailed analysis and sensitivities to be performed as a part of their valuation process.

Sale of PFI Equity Stakes

DWPF worked with a leading Utilities plc to maximise proceeds from the sale of a portfolio 6 equity stakes

The team valued the equity stakes, identifying upside opportunities and sourcing potential purchasers to maximise sale proceeds.

Financial Advice

DWPF to advise on acquisition of secondary market fund

DWPF have been retained to provide financial advice and modelling services in support of a potential acquisition of a large secondary market infrastructure fund

Acquisition of Healthcare Assets

DWPF worked with a major UK Investment Bank to bid for PFI equity stakes

DWPF valued the equity stakes by reviewing the vendors financial models and documentation and placing value on enhancement opportunities.

UPP Plymouth Phase 4

Further Transactions Closed at Plymouth

DWPF acted as financial adviser to UPP (University Partnerships Programme) in reaching financial close on two partnership transactions for the University of Plymouth.The transaction consisted of a residential accommodation scheme and an additional academic building to be used by the University.

Salford Schools

DWPF acted as financial adviser to HOCHTIEF PPP Solutions to successfully bring this PFI schools project to financial close

Financial Modelling Work

DWPF to assist outsourcing firm with production of corporate level financial model

The model will aid analysis of the Client’s corporate structure and quantify the impact on the group of potential acquisitions

Acquisition of Debt

DWPF acquires senior debt stakes in 2 student accommodation deals

The stakes, acquired on the 10^th November 2006, were simultaneously refinanced to improve financing terms and produce a gain.

Acquisition of PFI Schools Assets

DWPF worked with a major UK Investment Bank to bid for PFI equity stakes.

DWPF valued the equity stakes by reviewing the vendors financial models and documentation and placing value on enhancement opportunities.

Financial Modelling Work

DWPF to assist outsourcing firm with production of corporate level financial model

The model will aid analysis of the Client’s corporate structure and quantify the impact on the group of potential acquisitions

Financial Advisory

Bangor and Nendrum Schools financial close

DWPF acted as financial adviser to HOCHTIEF PPP Solutions to successfully bring this PFI project to financial close

Acquisition of a portfolio PFI assets

DWPF worked with a major UK Investment Bank to bid for a portfolio of PFI assets

DWPF valued the equity stakes by reviewing the vendors financial models and documentation and placing value on enhancement opportunities.

Refinancing of PFI Schools

Scottish Group Schools refinancing reached close

DWPF acting for Secondary Markets Infrastructure Fund advised on the successful refinancing of the Falkirk Schools PFI. This project was originally the first group schools project in Scotland. Previously DWPF has advised on the refinancing of 3 other PFI projects in Scotland.

Innovative Financial Solutions in PFI and PPP

David Wylde gives his knowledge, experience and expertise to PFI Journal in issue 52

To read the full article, click here.

The Winning Formula

Graham Bloomfield discusses financial modelling in the planning and bidding process of PFI Projects

To read the full article, click here.

PFI Debt Refinancing

Andrew Date talks to PPP Bulletin about PFI Debt Refinancing and 'the 2005 crossroads'

To read the full article, click here.

BSF Financing Issues

Paul Rowan and Richard Clancy discuss the financing issues in respect of the Building Schools for the Future (BSF) programme.

Click here to read full article.

UPP Leeds Metropolitan

Student accommodation estate transfer

DWPF acted as financial adviser to UPP (University Partnerships Programme) in reaching financial close of this estate transfer project in co-operation with Leeds Metropolitan University. This transaction was structured utilising an innovative structure which provided added financial efficiencies to the parties.

Republic of Ireland PPP Closes

DWPF closes PPP deal for Cork School of Music

DWPF acted as Financial Adviser to the successful private sector bidder HOCHTIEF PPP Solutions.