Darlington College - Refinancing of Bank Borrowing

Tender description

Darlington College is seeking an Organisation regulated by the PRA and FCA to refinance its bank borrowing. Lot 1: Darlington College is seeking an Organisation regulated by the PRA and FCA to refinance its bank borrowing. • An organisation with experience of lending to the UK education sectors • A organisation that will provide a nominated relationship manager and service team that has experience of the UK FE sector. • The ability to provide a fully credit and pricing backed proposal to this ITT • Able to complete the refinance/restructure of existing borrowing by 10 May 2021 • An online provision to meet the needs of the college The College is considering refinancing its bank borrowing into one of the following 3 structures and seeks pricing and terms for each: Option 1, a £3m 5-year amortising loan with a 10-year repayment profile, option 2, a £3m Revolving Credit Facility over 5 years, option 3 a £3m Revolving Credit Facility over 3 years.