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
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The possibility of withholding consent to a refinancing will place a department in a strong negotiating position
The possibility of withholding consent to a refinancing will place a department in a strong negotiating position
More Information
In certain circumstances departments should have the right to approve a refinancing
Approval rights will place a department in a strong negotiating position
FPSL's lenders sought Prison Service approval to aspects of the refinancing giving rise to benefits of £5.2 million
The Prison Service was in a strong negotiating position because it had been asked to consent to the refinancing