Part 3: There are general principles which departments can apply to refinancings
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There are strategies which can help departments apply the principles
There are strategies which can help departments apply the principles
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The possibility of withholding consent to a refinancing will place a department in a strong negotiating position
Departments should consider what the consortium's alternative is if approval to the refinancing is withheld
Linking advisers' remuneration to the outcome of negotiations may be helpful