2.49 This refinancing has demonstrated that, even with the new Treasury code which sets out the framework for sharing refinancing gains on early PFI deals, completing a refinancing will absorb a large amount of authority management time. The Trust was first notified by THC Dartford in early 2001, soon after the new hospital had opened, that it was considering refinancing the project. The Trust's senior management then spent considerable time monitoring the refinancing plans, and negotiating over the refinancing, during the next two years although they also improved the operation of the hospital during this period achieving three star status. The large time commitment on the refinancing was to be expected as it was the Trust's management's first experience of a refinancing. The experience they have gained is now shared with other NHS Trusts who seek their advice.