Dickinsons leads abbey back to PFI/PPP

Dickinson Dees has advised Abbey on its first two forays into the PFI and PPP markets since its acquisition by Banco Santander in 2004.

Dickinsons partner Russell Jarvis paved the way by suggesting to Abbey that it would be good to enter the secondary PFI and PPP markets.

Abbey has taken a £25m participation in a debt facility provided by Sumitomo Mitsui Banking Corporation for a £200m PPP project to refurbish building facilities at schools across Edinburgh. Sumitomo was advised by Lovells.

Abbey has also taken a £25m participation in a debt facility provided by Depfa Bank in a similar scheme for facilities to be provided under the Forfar and Carnoustie PPP project. Depfa Bank was advised by CMS Cameron McKenna.