A consortium composed of Bovis Lend Lease Holdings Limited, HSBC Infrastructure Fund Management Limited and Sodexho Investment Services Limited achieved financial close for the project
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A consortium composed of Bovis Lend Lease Holdings Limited, HSBC Infrastructure Fund Management Limited and Sodexho Investment Services Limited achieved financial close for the project. The Project senior financing is a combination of £180 million secured index linked bonds, issued by plc and £175 million loan facility provided by the (EIB). Ambac Assurance provides an unconditional and irrevocable guarantee of scheduled principal and interest payments over the public bond and EIB loan. Additional financing comprises a subordinated debt provided by HSBC (£21 million), and junior subordinated loan stock and equity by the project company shareholders (£21 million)
List of the country updates
Country updates
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December 14, 2003
The road was partially opened on 9 December 2003 for traffic entering from local junctions, then fully opened on 14 December 2003 The historical investment structure of the project differs greatly from the present position
The road was partially opened on 9 December 2003 for traffic entering from local junctions, then fully opened on 14 December 2003 The historical investment structure of the project differs greatly fr...
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December 12, 2003
John Laing, together with its partner Sodexho, was appointed preferred bidder to build the project
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August 31, 2003
The Private Finance Initiative (PFI) contract between the city council and Aurora Sunderland Streetlighting Ltd will see old and worn equipment replaced
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February 09, 2000
The road opened to traffic
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October 01, 1996
The contract was signed
