£1.73m refinance deal for sixth-form college

Better Futures Multi-Academy Trust (BFMAT) – the organisation that runs Bilborough Sixth Form College in Nottingham – has completed a £1.73 million refinance deal with Allied Irish Bank (GB).

BFMAT welcomed Bilborough Sixth Form College as a founding member in early November.

Carol Noonan, relationship manager at Allied Irish Bank (GB) Nottingham – which also provides day-to-day banking facilities to Bilborough Sixth Form College – said: “We’ve worked with Bilborough College since 2005, when we provided funding for its new campus development and it has been very rewarding to witness it go from strength to strength ever since.”

Professional advisers to Allied Irish Bank (GB) included Chris Gayle of Shakespeare Martineau and Roger Smalley of Lambert Smith Hampton, while Morag Roddick of Eversheds Sutherland provided legal advice to BFMAT.

David Shaw, principal of Bilborough Sixth Form College, added: “The refinance deal with Allied Irish Bank (GB) involved some complex and unique issues relating to our moving to academy status and joining the Trust. Carol and her team succeeded in making sure that everything was done correctly and efficiently, which we’re so grateful for.”