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Dickinson Dees LLP facilitates Abbey entry into public sector debt deals market

law firm’s in-depth marketplace experience enables UK’s sixth largest bank to participate in three major schemes for school and university refurbishment

February 05, 2008

Newcastle-based Dickinson Dees has advised Abbey on its participation in three debt facilities to fund major education projects in England and Scotland.

Abbey has taken a £25m participation in debt facility provided by Sumitomo Mitsui Banking Corporation (SMBC) for a £200m PPP project to refurbish building facilities at schools across Edinburgh. It has also taken a £25m participation in a debt facility provided by DEPFA Bank plc (DEPFA) for a similar scheme for facilities to be provided under the Forfar and Carnoustie PPP Project. Separately Dickinson Dees has also advised on a £13.5m debt facility provided to Oxford Brookes University.

The first two deals represent the Abbey’s first entry into the debt facility market for PFI and PPP projects across the UK and follows the recently creation of a public sector and charities team headed by Stephen Brooks, formerly of Allied Irish Bank.

The four-strong Dickinson Dees’ team, led by partner Russell Jarvis, an expert in project finance, provided advice on the bank’s participation, provided due diligence checks on all project documentation and advised on the facilities documentation needed to complete the schemes. Russell was also integral to the Abbey’s participation, having worked closely with SMBC, DEPFA and Barclays on previous debt facilities across the UK. The firm is also advising the Abbey on three other deals currently in progress in the education sector.

Executive quote

“The Abbey has taken a considered and intelligent approach to its entry into the debt facilities market, and has ensured the deals and partners it selects will be successful,” said Russell Jarvis, partner, Dickinson Dees. “The projects being funded will make a direct impact on the quality of educational facilities across the UK.

Customer quote

“Dickinson Dees has not only provided expert advice on our initial deals in the debt facility market, but it was the team’s insight and connections in the industry which have facilitated our entry into this arena,” said Steven Brooks, head of education, health and community at the Abbey. “The team’s expertise in project funding can be seen in projects up and down the country, which further demonstrates how the team’s in-depth knowledge can directly contribute to successful schemes.”

About the company

Dickinson Dees is one of the UK’s leading law firms. Based in the North East of England, with 78 partners and 925 people in all, the firm provides legal services to corporate, commercial, public sector and private clients across the UK.

Dickinson Dees prides itself on the high quality and personal service it offers clients, providing complete transparency from pitch to proposal to project. Its stable partnership and high growth rate make it one of the most successful law firms in the UK today.

The firm counts some of the UK’s largest organisations amongst its clients including major banks, industry and retailers. It also supports some of Britain’s fastest growing dynamic young businesses. Recent multimillion pound deals have included work for major national plcs. It also has a large public sector client base including local authorities across the country from London to the North East, major health and other public service institutions as well as national and regional government departments and organisations.

A national business with strong regional roots, Dickinson Dees attracts legal talent locally and from across the nation to join its five offices across Newcastle, Tees Valley, Yorkshire and London.

Its partners sit on some of the UK’s most important public and private sector bodies including Family Law Association, Royal Town Planning Institute, STEP - Society of Trusts and Estates Practitioners and The Royal Institute of Chartered Surveyors (RICS).

Contact details

For more information or photography please contact Jade Wilkinson at LEWIS PR:
Phone: 0161 601 7740
Email: dickinsondees@lewispr.com

Technorati tags: Dickinson Dees | Abbey | Sumitomo Mitsui Banking Corporation | Russell Jarvis |

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