Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 338

Assured Guaranty Wraps University of Leicester Bond Issuance

Posted by fidest press agency su mercoledì, 7 agosto 2019

Assured Guaranty (Europe) plc (AGE)* announced that it has guaranteed principal and interest payments on £124 million of bonds issued by Freemens Common Village LLP. The bond issuance** will finance the construction of new student accommodation at the University of Leicester (the University). As a result of the guarantee from AGE, the bonds are rated AA by S&P Global Ratings. The underlying project is rated BBB-. The 45-year inflation-linked bond, which reached financial close on 2 August 2019, took advantage of low long-term rates and was issued as a private placement to UK investors.The bonds will finance a total of 1,164 new bedspaces for university students, a multi-storey car park and new teaching facilities. The halls are located on campus and are designed to house both undergraduate and postgraduate students in a wide mix of room types including en-suites, studios, micro rooms and townhouse units.Engie Regeneration Limited (Engie) will build and maintain the halls through wholly owned subsidiaries, delivering the accommodation in two phases over three years. Equitix is the main sponsor of the project company, with Engie as a co-sponsor. The University has a 10% stake in the project company.

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