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Refinancing studied for Sheffield PFI roads deal

27 November 2015
 

Sheffield City Council is exploring refinancing its road maintenance private finance initiative (PFI) contract, which could save £300,000-£600,000 a year.

Sheffield says banks are offering more favourable interest rates now than when the contract with Amey was signed in 2012. The PFI deal has 22 years remaining and so the council believes refinancing could deliver cumulative savings of £7m – £14m.

Council finance manager, Jayne Clarke, and head of highway...

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