Financial close for student housing project at Colchester campus

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Assured Guaranty UK Limited (AGUK) has guaranteed principal and interest payments on GBP113 million (US$155.69 million) of bonds issued by ULiving@Essex3 LLP (Uliving). 

45-year bonds were sold to UK investors and distributed in two tranches of fixed and index-linked debt. The bond issuance will finance the design, build and operation of a new student accommodation located at the Colchester campus of the University of Essex. The student housing will feature 1,262 bed spaces in five new housing blocks, including en-suite rooms and studios. The construction works will be carried out by Bouygues (U.K.) Limited (Bouygues Construction), with facility management services provided by Bouygues E&S Solutions Limited (Bouygues Construction). The shareholders of the project are Equitix and Bouygues.

The advisers of AGUK were Norton Rose Fulbright LLP as legal adviser, AECOM as technical adviser, Cushman & Wakefield as demand adviser, and Marsh as an insurance adviser.


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