Refinancing

The Model Contract includes provisions to enable the Fire and Rescue Authority or Police Authority to share in the benefits of any refinancing that the Service Provider might undertake at any time during the Contract period.  The drafting in the Model Contract incorporates the guidance and model drafting from the HM Treasury Standardisation of PFI Contracts.

If the Bidder expects to refinance during the Contract period then the terms and conditions of such refinancing should be indicated in as much detail as possible, including for any debt refinancing, assumptions or interest rates, repayment schedules and final maturity.