DD1337 Borrowing from Community Finance Company 1 plc for Northern Line Extension

Type of decision: 
Director's decision
Code: 
DD1337
Date signed: 
05 May 2015
Decision by: 
Martin Clarke, Executive Director, Resources

Executive summary

The GLA has agreed to borrow up to £1bn to finance the Northern Line Extension (NLE) (DD1300). This decision authorises relevant officers to enter into commitment and related loan agreements on behalf of the GLA with Community Finance Company 1 plc (“COFCO1” or the “Issuer”) and Lloyds Bank plc (“Lloyds”) in respect of part of that borrowing (up to £200m).

Part 1: Non-confidential facts and advice