Innovative £83m Salford PFI bond finances urban facelift
Investec has placed an innovative £82.6m senior and subordinated bond to finance the renovation of an area of housing in Salford, near Manchester, under the private finance initiative (PFI).
Salford City Council has given the contract to refurbish 1,270 existing dwellings in the Pendleton area and then manage them for 30 years to Together Housing, a housing association.
The financing for the project was bid out separately, and the mandate won by FHW Capital, a boutique set
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