Fladgate LLP is acting for The Private Infrastructure Development Group on its phased restructuring of £68m of funding, from grant to debt, in favour of the UK Department for International Development (DFID).
The Trust is a development funding agency whose members include the UK, Swiss, Dutch, Swedish, Austrian, Irish, German and Australian governments and the World Bank. The first tranche of debt was restructured on a very short timeframe ending on 31 March 2014.
The transaction was referred by MDY Legal (who provide the programme management unit of the Private Infrastructure Development) to Fladgate corporate partner Neil Vickers and was led by banking partner, Charles Proctor.
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