Aspire Defence Finance PLC Contract (9790N)

TIDM85VK

RNS Number : 9790N

Aspire Defence Finance PLC

01 November 2016

Aspire Defence Finance plc, the Issuer for the Allenby/Connaught Private Finance Initiative project ("the Project"), announces that Aspire Defence Limited ("ADL"), the ProjectCo for the Project, has entered into a Deed of Amendment and Restatement of the Project Agreement with the Ministry of Defence ("the Authority") to include further scope associated with the Army Basing Programme ("ABP") that is required on the geographic footprint of the Project. ADL will provide further accommodation and facilities to enable troops to return from Germany in 2019. Once the assets are completed it will also provide additional hard and soft facilities management services to those assets and their occupants until the end of the Project in 2041.

ADL has also entered into an ABP Building Contract with Aspire Defence Capital Works, a joint venture between Carillion plc and KBR Inc to design and construct the required accommodation and facilities, and a Deed of Amendment and Restatement of the Services Contract with Aspire Defence Services, which is also a joint venture between Carillion plc and KBR Inc, to provide the hard and soft facilities management services to the enlarged estate. The Authority will be funding the cost of the capital expenditure and the additional facilities management costs as they arise over time.

In order to seek to ringfence the construction aspects of ABP from the Project, ADL has entered into deeds of amendment and restatement to the Collateral Deed, Master Definitions Schedule, and Accounts Agreement, with, among others, Citicorp Trustee Company Limited, MBIA UK Insurance Limited and Ambac Assurance UK Limited. The amendments to the Collateral Deed and other Senior Finance Documents are not materially prejudicial to the interests of the Series A and Series B Bondholders.

By order of the Board,

A R McColl

Company Secretary

1 November 2016

This information is provided by RNS

The company news service from the London Stock Exchange

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November 01, 2016 09:30 ET (13:30 GMT)

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