Ashurst has advised Assured Guaranty on the financing of the redevelopment of new educational and accommodation facilities at the University of Leicester.
Assured Guaranty has wrapped the capital markets funding solution in the form of approximately £124 million worth of 45-year, index-linked guaranteed secured bonds.
The bonds will finance the redevelopment of the university’s Freemens Common campus, involving the demolition of existing facilities and the construction of high quality residences for around 1,200 students, a new Teaching and Learning Centre and a multi-storey car park with space for 550 cars. The Freemens Common project is being delivered by a partnership between the University of Leicester and a consortium led by Equitix.
Assured Guaranty is the leading provider of financial guaranty insurance. It guarantees scheduled principal and interest payments when due on municipal, public infrastructure and structured financings.
The Ashurst team was led by partners Jason Radford, Patrick Boyle and Alex Biles, assisted by senior associates Samuel Outtridge, Adam Skibsted and Karen Braackman and associates Megan Caulfield, Laura Birkinshaw Miller and Alice Rosenshaw.
Involved fees earner: Alex Biles – Ashurst; Laura Birkinshaw-Miller – Ashurst; Patrick Boyle – Ashurst; Karen Braackman – Ashurst; Megan Caulfield – Ashurst; Samuel Outtridge – Ashurst; Jason Radford – Ashurst; Adam Skibsted – Ashurst;
Law Firms: Ashurst;
Clients: Assured Guaranty Ltd;