Scottish schools pfi provides rich pickings

Pinsent Masons, Linklaters and Scottish firms Dundas & Wilson and Shepherd and Wedderburn advised on the £352.2m South Lanarkshire Schools PFI project. The scheme is the third-largest bond-financed schools project in the UK to date and comprises 17 project facilities, which will operate under a 33-year concession ending on 31 August 2039. Dundas advised South Lanarkshire Council, led by Glasgow projects partner Michael McAuley. Shepherds acted for principal subcontractor Amec, led by Edinburgh construction and special projects partner Chris Arnold. Pinsents advised the InspirED consortium, consisting of Amec Project Investments, Innisfree and Equion, led by Glasgow projects partner Ian Laing. Canadian Imperial Bank of Commerce was the financial adviser. XL Capital Assurance was credit provider to the project, and was represented by a Linklaters team led by partner Bruce White.