Issue details
Poplar Baths - Refinancing
PDF 225 KBThe senior financing debt arranged for the
Poplar Baths project was due to mature in 2019 and this has been
extended whilst the detailed arrangements were being finalised. A
refinancing exercise has been carried out by the Project Company
and this is now ready for executing.
Decision type: Non-key
Decision status: Recommendations Approved
Wards affected: Bethnal Green East;
Notice of proposed decision first published: 07/02/2020
Reason for urgency:
The detailed negotiations have been protracted with it being necessary for Folera to agree terms with an external funder and the Council as a party to the agreement.
There is a time critical nature to the decision being made to allow the relevant debt swaps and refinancing to take place as soon as possible to avoid further uncertainty over the cost of the debt facility due to the potential for market changes to occur.
Anticipated restriction: Part exempt (Part of the report will be exempt) - View reasons
Explanation of anticipated restriction:
Commercially confidential information.
Open/Exempt: Exempt;
Decision due: 26 Feb 20 by Cabinet
Lead member: Cabinet Member for Resources and the Voluntary Sector
Lead director: Corporate Director, Resources
Department: Resources
Contact: Neville Murton, (Corporate Director, Resources) Email: neville.murton@towerhamlets.gov.uk Email: neville.murton@towerhamlets.gov.uk.
Consultees
Lead Member for Resources and the Voluntary
Sector
Has an Equality Analysis been carried out and if so the result of this Assessment?: N/A
Decisions
- 28/02/2020 - Poplar Baths - Refinancing
Agenda items
- 26/02/2020 - Cabinet Poplar Baths - Refinancing 26/02/2020
Documents
- Poplar Baths - Refinancing