Case study: major financing deal
Wright Hassall’s banking & finance team acted on behalf of Warwick Independent Schools Foundation in negotiating a £28 million funding deal from HSBC. This will enable King’s High School for Girls to move to a new purpose-built campus on Myton Road where Warwick School (including Warwick Junior School) and Warwick Preparatory School are already based.
Chris Jones, of the banking & finance team at Wright Hassall, said: “This is a transformative project not only for the Foundation and its schools, but also for the town of Warwick and the surrounding community of which we are all part.
“King’s High, like all of the schools in the Foundation, is already extremely highly-regarded. The development is a milestone in its history and I am sure will allow all the schools in the Foundation to go from strength to strength.
“Wright Hassall is very proud to be able to service major transactions such as this, and we are delighted to have been involved in this financing for the Foundation.”
“We hugely appreciate the excellent, clear advice and the support provided by Wright Hassall in what has been a challenging and complex legal process.”
Simon Jones, Secretary, Warwick Independent Schools Foundation
The move, which will take three years to complete, will see the creation of a new main school building, a new shared music building, a new sixth form centre and improvements and an extension to the Bridge Sports Centre.
New and improved sports pitches – including 3G and all-weather surfaces – will also be built at the site, and work on the first phase is now underway.
Simon Jones, Secretary of the Warwick Independent Schools Foundation, said: “This is a landmark project for the schools and we are delighted to be working with HSBC to make this happen. We hugely appreciate the excellent, clear advice and the support provided by Wright Hassall in what has been a challenging and complex legal process.”
King’s High School has occupied its town centre site since it was established in 1879, and that site will be sold as part of the development.