Saracens Drawdowns

Barnet Council entered into a £22.9 Million Loan Agreement plus an amount for fees not to exceed £229,450 with Saracens Copthall LLP for the construction of a new West Stand as part of the StoneX Stadium (formerly Allianz Park Stadium) at Copthall on 29th January 2019.

The new stand will also include a cutting-edge media centre to be used as a ‘Learning Zone’ outside of match days. The charitable Saracens Foundation will work with the council and other partners to use the facility to inspire and support young people and others who are struggling with mainstream education, or who are seeking to develop themselves personally to improve employment opportunities. 

Barnet Council has helped facilitate taking the project to this new phase, and releasing drawdowns from the loan funding at agreed stages and undertaking due diligence. Further tranches will be released as confidence grows in the evolving business plan. Interest is charged on the loan at 6% and the loan therefore provides a positive contribution to the Council’s Medium Term Financial Strategy.

The paperwork for each drawdown is published here and will be added to as further drawdowns are made.

巴内特市政委员会于2019年1月29日与萨里斯本科普希尔有限公司签订了价值2290万英镑的贷款协议，并附加不超过229.45万英镑的费用，用于在科普希尔建造新的西看台，作为斯坦克斯体育场（原安联公园体育场）的一部分。该新看台还将包括一个尖端的多媒体中心，在比赛日之外用作‘学习区’。慈善性质的萨里斯本基金会将与市政委员会及其他合作伙伴合作，利用该设施激发和支持那些在主流教育中遇到困难或寻求个人发展以改善就业机会的年轻人及其他人士。巴内特市政委员会已帮助推动项目进入这一新阶段，并按照协议阶段释放贷款资金，同时进行尽职调查。随着对不断发展的商业计划的信心增强，将进一步释放贷款分期。贷款利率为6%，因此该贷款对市政委员会的中期财务战略做出了积极的贡献。每个提款文件的 paperwork 已在此发布，并将随着进一步的提款而不断更新。