Nabarro takes debut role for new client Nationwide on £60m PFI
Nabarro has advised Nationwide for the first time since being appointed to the building society's panel in July last year. The firm has advised Nationwide in its capacity as sole lender on a £60m private finance initiative (PFI) in order to develop a new library and history centre in Worcester.
February 24, 2010 at 07:04 PM
2 minute read
Nabarro has advised Nationwide for the first time since being appointed to the building society's panel in July last year.
The firm has advised Nationwide in its capacity as sole lender on a £60m private finance initiative (PFI) in order to develop a new library and history centre in Worcester.
Nabarro's team was led by projects partner Louisa Cilenti, who advised Nationwide on property, contractual and financing aspects of the deal.
The preferred bidder for the project, Galliford Try Investments, was advised by legacy firm Shadbolt, where real estate and construction partner Liz Jenkins took the lead. Jenkins is now a partner with Clyde & Co, which took on Shadbolt's London construction and infrastructure projects and dispute teams in February.
Meanwhile, Worcestershire County Council, the University of Worcester and Worcester City Council turned to top 50 law firm Trowers & Hamlins, where public sector commercial head Helen Randall took the lead role.
Cilenti said: "Nationwide's ability to fully underwrite the deal at this level signals a confident message that good PFI deals remain attractive and that PFI structures still have their merits."
Back in July, Nationwide unveiled its first ever group-wide legal panel, signing up five firms to the roster. Allen & Overy joined Eversheds, Burges Salmon, Olswang and Nabarro.
Nabarro currently sits on two of the building society's panels, with Cilenti as the relationship partner on the projects panel. Indirect investment partner Chris Luck is the main relationship partner for the general corporate affairs panel to which the firm was also appointed.
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