KPMG helps UCL secure £280 million to deliver its 2034 vision

KPMG helps UCL secure £280 million to deliver its 2034

KPMG Capital Advisory Group has successfully advised UCL (University College London) on a new £280 million long term facility over 30 years, provided by the European Investment Bank (EIB).

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KPMG Capital Advisory Group has successfully advised UCL (University College London) on a new £280 million long term facility over 30 years, provided by the European Investment Bank (EIB).

This round of funding follows an initial £150 million revolving credit facility secured in March 2015, led by HSBC, alongside Barclays, Lloyds and RBS.

Both rounds of funding are part of a commitment by UCL to a programme of capital investment, which will see £1.25 billion spent over ten years to support delivery of its strategic 2034 vision, helping to secure UCL’s position as a world leading centre of learning, research, innovation and enterprise. 

This latest round of funding will continue the work already underway to refurbish and upgrade UCL’s Bloomsbury campus as well as establishing UCL East – a major new higher education and cultural hub in East London at the Queen Elizabeth Olympic Park.

The KPMG team was led by Marc Finer alongside colleagues David Reitman and Sam Andrews. Pinsent Masons provided legal advice to UCL on the EIB facility. 

Phil Harding, Director of Finance at UCL, said: “I am delighted that we have been able to secure flexible and long-term debt facilities that will enable delivery of an ambitious programme of estate transformation for UCL. The teams at KPMG and Pinsent Masons have combined very effectively to deliver an outcome that matches our needs perfectly and on terms that are better than we had expected.”

Marc Finer, who leads KPMG’s debt advice to the sector, added: “We are delighted to have advised UCL, ranked among the world’s top universities, on a competitive and flexible long term funding package to support its exciting strategic vision for the future. This funding will enable significant capital investment in the university’s facilities, ensuring it continues to attract first class talent, in turn securing UCL’s leading position at the forefront of innovation in higher education.”

Ed Sunderland, Partner at Pinsent Masons’, said: “Having advised UCL on various mergers in the past, we are delighted to have played a part in helping UCL secure this significant funding package, which will help secure its strategic 2034 vision.”

ENDS

Media enquiries:  

Frances Shennan, Senior PR Manager, KPMG 

07584 202794 / frances.shennan@kpmg.co.uk

Margaret-Anne Orgill, media relations manager at UCL

07572 602345 / m.orgill@ucl.ac.uk

Katherine Dvorkin, PR Advisor at Pinsent Masons

020 7490 9373 / Katherine.dvorkin@pinsentmasons.com

About UCL (University College London)

UCL was founded in 1826. It was the first English university established after Oxford and Cambridge, the first to open up university education to those previously excluded from it, and the first to provide systematic teaching of law, architecture and medicine. UCL is among the world's top universities, as reflected by performance in a range of international rankings and tables. UCL currently has over 35,000 students from 150 countries and over 11,000 staff. Its annual income is more than £1 billion.

www.ucl.ac.uk | Follow UCL on Twitter @uclnews | Watch UCL’s YouTube channel YouTube.com/UCLTV

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

About Pinsent Masons

Pinsent Masons is a global 100 law firm, specialising particularly in the energy, infrastructure, financial services and advanced manufacturing and technology sectors. The firm employs over 2500 people in total, including over 1500 lawyers and more than 400 partners. The firm's international footprint encompasses six offices across Asia Pacific - including in Sydney and Melbourne - two offices in the Middle East and four offices in continental Europe. The firm also has comprehensive coverage across each of the UK's three legal jurisdictions.

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