The topics covered by our survey are described below.
Project details:
■ Name and description of project
■ Capital value and Net Present Value
■ Project phase
■ Name of consortium and key contractors
Refinancing arrangements
■ Would a refinancing need approval and in what circumstances?
■ Is there any mechanism for sharing refinancing gains?
■ What percentage share is the authority entitled to receive?
■ Is the authority entitled to compensation for increases in termination liabilities?
Refinancing experience
■ Has the project been refinanced and if so what was the outcome?
■ Are there plans for a refinancing?
■ Have there been any other changes in financing arrangements?
The consortium's financial structure
■ Is the authority aware of the consortium's current financial structure and of any changes since contract letting? ! What were these changes? ! How is the project funded?
Learning from experience and guidance
■ Were refinancing issues considered during the procurement when assessing bids and when completing the contract?
■ What guidance was used?
■ With hindsight, would the authority approach refinancing differently - and if so how?