Aviva Investors has provided an £85m facility to refinance six police investigation centres across Norfolk and Suffolk.
The senior fixed-rate term loan facility was arranged on behalf of the annuity business of Aviva UK Life.
It was used to refinance existing floating-rate debt and swap arrangements, and marks Aviva Investors’ fifth deal in the “blue light” sector.
The centres are located at Wymondham, Aylsham, Great Yarmouth, Ipswich, Bury St Edmunds and King’s Lynn. They originally reached financial close in 2010 on a standard form project agreement with Norfolk and Suffolk police authorities.
Darryl Murphy, head of infrastructure debt at Aviva Investors, said: “This refinancing enhances value for money of the project to the public sector.
“We continue to have strong appetite for similar opportunities for our clients and expect the investment to provide strong, long-term revenues to support the Aviva annuity business.”
Marcus Mollan, director of annuity asset origination at Aviva, added: “This investment is an important addition to our annuity fund’s diverse infrastructure portfolio, which provides finance for a wide variety of long-term infrastructure projects across the UK and overseas.”
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