University of Essex

QMPF acted as financial advisor to the University of Essex in the £98m refinancing of its student accommodation partnership with Uliving which reached financial close in February 2017. The refinancing involved c. 1400 beds operated by Uliving on the University’s campus at the Meadows and the Quays. The transaction reached its original financial close in 2012 and has been operational since 2013. The £98m of senior debt was provided by Pension Insurance Corporation through a 42 year bond index linked bond wrapped by Assured Guaranty.

Andrew Keeble, Director of Finance at the University of Essex said “The refinancing has secured the long-term funding of our student accommodation provision and is an important transaction for the University. QMPF’s advice enabled us to evaluate the commercial impact carefully and to generate best value to the University.”