Land Securities Trillium, the PFI and outsourcing arm of Land Securities, has completed a £110m refinancing of four completed school PFI projects.

The refinancing was provided by Nationwide Commercial. Trillium is the equity provider, and following the completion of all construction work in the schools in Liverpool, Wirral, Kirklees and Salford sought to restructure the projects on a portfolio basis.

Political priority

Mark Jenkins, divisional director at Nationwide Commercial, said: ‘The provision of high quality school buildings is in-keeping with our heritage of funding school projects within the PFI sector.

‘Education is a political priority, and through the schools PFI sector, this is an area in which we have a great deal of expertise and experience.’