Darlington College is seeking an Organisation regulated by the PRA and FCA to refinance its bank borrowing.

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 GBP 3 000 000 5-year amortising loan with a 10-year repayment profile, option 2, a GBP 3 000 000 Revolving Credit Facility over 5 years, option 3 a GBP 3 000 000 Revolving Credit Facility over 3 years.