QMPF has advised Bangor University on the funding options to support its capital investment programme
Funding options advice
Bangor University Campus Investment plans secure £45m funding
QMPF has advised Bangor University on the funding options to support its capital investment programme and assisted with the structuring of the £45m financing solution. This comprised a £45 million long term loan facility from the European Investment Bank (“EIB”) alongside a smaller Revolving Credit Facility from a commercial bank, as a bridge facility.
The EIB loan will allow the University to implement its estates strategy, which includes development of the new Pontio building (an Arts and Innovation centre), the Marine Centre Wales and upgraded halls of residence and sports facilities. The University will also invest in its science facilities along Deiniol Road and Dean Street and various other improvements to its academic estate.
Our role included the preparation of financial forecasts, quantifying the University’s funding requirement and developing a strategy to meet it. We then led the tendering and negotiation of the new facilities on the University’s behalf. Bangor agreed the new facilities in March and April 2014.
Mike Davies, Director of Finance of Bangor University, said:
”The QMPF team provided invaluable financial advice to secure a flexible and comprehensive solution to our overall funding requirements. Their relationships with a broad range of Banks and Institutions and knowledge of the EIB’s processes combined with their commitment to the University resulted in an efficient process to financial close. We would not hesitate to contact them in future for further advice.”
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