Guidance

PFI/PPP finance guidance

Finance guidance specific to PFI/PPP arrangements.

Documents

Application note: interest-rate and inflation risks in PFI contracts

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Guidance note: the use of internal rates of return in PFI contracts

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Preferred bidder debt funding competitions: letter

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Preferred bidder debt funding competitions: draft outline guidance for feedback

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Refinancing of early PFI transactions: code of conduct

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Guidance note: calculation of the authority´s share of a refinancing gain

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Covering note: value for money in refinancings

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Application note: value for money in refinancings

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Guidance on application of the Spens clause to PFI transactions: covering letter

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Guidance on application of the Spens clause to PFI transaction

This file may not be suitable for users of assistive technology. Request an accessible format.

If you use assistive technology (eg a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gsi.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Detail

Application note: interest and inflation risk

The application note has been designed to help Authorities understand and evaluate cost effective strategies for managing interest rate and inflation risks in PPP transactions.

The guidance note provides guidance on the calculation and use of internal rates of return (IRR) in PPP contracts.

Preferred bidder debt funding competitions

Following the public sector consultation of preferred bidder debt funding competitions, guidance has been published in draft-outline for wider feedback.

Refinancing

The Code of Conduct sets out the basis on which individual Authorities will approach the refinancing by private sector contractors of early PFI transactions. It is a voluntary Code to enable private sector contractors to share refinancing gain with the public sector on a consistent and equitable basis.

The guidance note is intended to help authorities and their financial advisers in calculating Refinancing Gains.

Spens

The government has previously expressed its concern that the Spens formula, which applies to listed bonds in the UK, creates an extra cost of termination for a PFI project. To address this concern HM Treasury requires all PFI contracts funded through the capital markets to contain a modified Spens clause. This guidance has been issued to assist Authorities in determining the most appropriate form of modified Spens to be applied.