University of Exeter
QMPF acted as financial advisor to the University of Exeter in the £150m refinancing of its student accommodation partnership with UPP, which reached financial close in December 2014. UPP operates 2,569 student rooms at the University, which were developed in three phases and have been operational since 2009/10.
The project was rated A- by Standard & Poor’s and the SPV issued index-linked notes to two investors.
Andrew Connolly, Chief Financial Officer at the University of Exeter said:
“The refinancing has secured the long-term funding of our student accommodation provision by UPP. This has been an important transaction for the University and we have been superbly supported and advised by QMPF helping us through to successful completion on satisfactory terms.”
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