2.10 In view of the complexity of the financing for the project, we commissioned RBC Capital Markets (a part of the Royal Bank of Canada Group) to review a number of key areas relating to the private finance LCR raised since 2001. Its findings are at Appendix 3. In summary:
■ the structure of LCR's debt financing is appropriate;
■ overall, interest rates for the debt were competitive given the relevant degree of risk taken; and
■ although, for technical and commercial reasons, some business was not placed following competitive tendering, LCR put in place processes to gain assurance that the prices paid were in line with the market.