East Mids school lands £20m deal to upgrade sports facilities

The Corporation of Oundle School has secured a £20m finance facility from HSBC which it will use to extend its sporting facilities.

The school says it will build a sports centre with 50 metre, six lane pool, fitness suite and eight court hall. The new netball and tennis courts and athletics track are already close to completion.

Dominic Toriati, bursar at Oundle School, said: “Securing this funding from HSBC will work with fundraising and School resources to ensure we are offering our pupils and the wider Oundle Community the very best teaching and facilities possible.”

Markus Keller, area director for Corporate Banking, at HSBC said: “We’re thrilled to be supporting Oundle School on this phase of development. HSBC continues innovating to meet evolving customer expectations and needs and we worked closely with the School to provide a flexible finance option that suited their requirements.”

Suzy Verma, HSBC’s head of public sector & education in the UK added: “This is a significant deal which underpins HSBC’s credentials in the education sector and our commitment to support a broad range of institutions. We’ve worked closely with the School to build a strategic funding package which will best support Oundle’s objectives for growth and pupil education and wellbeing. As it commences with this next exciting chapter we will continue to provide our support and on-the-ground expertise.”

The funding was arranged by Alison Cass, Relationship Director at HSBC.

The Sports Centre is expected to open at the end of 2019.