PART TWO A refinancing has created benefits but also new risks for the Trust
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But there are additional risks arising from the refinancing
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The Trust could face significantly increased termination liabilities but expects the refinancing with this additional risk to provide value for money
The Trust could face significantly increased termination liabilities but expects the refinancing with this additional risk to provide value for money
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The increase in the Trust's termination liabilities arises from the terms of this early PFI deal
The Trust's approach to termination liabilities followed some, but not all, of what is now considered to be best practice in implementing the Treasury's refinancing guidance
The steps which the Trust took in accordance with the code and related guidance
The areas where the Trust's approach did not fully comply with current best practice in applying the code and related guidance
The Trust's termination liabilities could increase significantly but the Trust has demonstrated that the refinancing is expected to provide value for money despite this added risk
A consequence of these arrangements was that the Trust could become liable for some or all of THC Dartford's increased debt taken on to facilitate the refinancing