Specialist Sixth Form Education Provider completes seven-figure refinance deal with Allied Irish Bank (GB)

Specialist Sixth Form Education Provider completes seven-figure refinance deal with Allied Irish Bank (GB)

A specialist sixth form education provider has completed a £1.73m refinance deal with Allied Irish Bank (GB) in Nottingham that will strengthen the future ambitions of Bilborough Sixth Form College.

Better Futures Multi-Academy Trust (BFMAT) welcomed Bilborough Sixth Form College as a founding member in early November. Sponsored by Coventry University Group, BFMAT is focused on creating a collaborative, collegiate approach to sixth form college education. Its first member college, King Edward VI in Nuneaton, with which Bilborough Sixth Form College has worked closely in the past, joined in January 2019.

Carol Noonan, relationship manager at Allied Irish Bank (GB) in Nottingham, which also provides day-to-day banking facilities to Bilborough Sixth Form College, said:

“We’ve worked with Bilborough College since 2005, when we provided funding for its new campus development and it has been very rewarding to witness it go from strength to strength ever since. The College becoming an academy and joining BFMAT strengthens its financial future and will benefit both staff and students through the Trust’s specialist approach to sixth form education.”

David Shaw, Principal of Bilborough Sixth Form College, added:

“The refinance deal with Allied Irish Bank (GB) involved some complex and unique issues relating to our moving to academy status and joining the Trust. Carol and her team succeeded in making sure that everything was done correctly and efficiently, which we’re so grateful for.

“We chose BFMAT as a partner because its commitment to providing an outstanding educational experience to students is completely aligned with our own. Membership of the Trust allows us to share ideas and best practice with other sixth form colleges while making savings in central back-office costs. Those savings, along with the funding regime associated with becoming an academy, mean that we’ll be able to invest in facilities and equipment to enhance our students’ experiences in the future.”

Professional advisers to Allied Irish Bank (GB) on the deal included Chris Gayle of Shakespeare Martineau and Roger Smalley of Lambert Smith Hampton, with Morag Roddick of Eversheds Sutherland providing legal advice to BFMAT.

The AIB logo, Allied Irish Bank (GB) and Allied Irish Bank (GB) Savings Direct are trademarks used under licence by AIB Group (UK) p.l.c. incorporated in Northern Ireland.  Registered Office: 92 Ann Street, Belfast BT1 3HH.  Registered Number NI018800.  Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Picture: AIB (GB) and Bilborough Sixth Form College news pic


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