REFINANCING OF PPP PROJECTS

Finance and Central Services Department Financial Partnerships Unit	Victoria Quay Edinburgh EH6 6QQ
To Chief Executives Local Authorities	Telephone: 0131-244 7497 Fax: 0131-244 7499 Sandy.rosie@scotland.gsi.gov.uk http://www.scotland.gov.uk
CC PPP Project Managers	9 March 2006

I have previously written to Chief Executives of Local Authorities on 12th February 2003 regarding Refinancing of PPPs and the Code of Conduct and its application. The purpose of this letter is to reconfirm the requirements that Procuring Bodies must follow if a Senior Debt Refinancing ("Refinancing") emerges as well as detailing the recommended approach to this process and the appropriate new guidance to follow.