Lovells

Lovells has advised the winning Land Securities Trillium Consortium on the £600 million Kent Building Schools for the Future (BSF) programme.  Lovells also advised Barclays Bank and Sumitomo Mitsui Banking Corporation (SMBC), mandated lead arrangers, acting in a dual role, on the project documents.  The deal closed on 24th October.  

The £600 million landmark deal will involve 10 secondary schools being completely rebuilt or substantially refurbished in the first phase, as part of the largest BSF scheme to reach financial close to date. 
 
The Lovells' team was led by Infrastructure and Project Finance (IPF) partner Adrian Walker and associate Joel Nesbitt, working with IPF banking partner Andrew Welbourn, property partner Dan Norris and associates Chris Cross, Cheryl Enayati, David Hartley, Caroline Perry, Alistair Cowling, Rachael Grove, Graham Cutts, Patricia Ferguson and Stephen Bayley.  

Adrian Walker said:        

"We are delighted to close this landmark BSF project which is fantastic news for Land          Securities Trillium, their lenders, Kent County Council and the people of Kent."  

Nabarro acted for Kent County Council.  Ashursts acted for the lenders on the finance documents.  

Since the beginning of 2007 Lovells have also advised on the £160 million Perth & Kinross Schools PPP, the £200 million Edinburgh Schools II PPP project and the £150 million East Dunbartonshire Schools project and is currently working for bidding consortia on a further four BSF schemes.  This supplements the significant number of previous school PFI and BSF projects on which Lovells has advised sponsors and lenders across the UK.

About Lovells  

With over 3,000 people operating from 26 offices in Asia, Europe and the United States, Lovells is one of the world's leading international law firms. We advise many of the world's largest corporations, financial institutions and governmental organisations.  We regularly act on complex, multi jurisdictional transactions as well as some of the most high profile commercial disputes.  Lovells (the "firm") is an international legal practice comprising Lovells LLP and its affiliated businesses.  Lovells LLP is a limited liability partnership registered in England and Wales with registered number OC323639.  Registered office and principal place of business: Atlantic House, Holborn Viaduct, London EC1A 2FG.  

The word "partner" is used to refer to a member of Lovells LLP, or an employee or consultant with equivalent standing and qualifications, and to a partner, member, employee or consultant in any of its affiliated businesses who has equivalent standing.  

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