TfL investment savings

Meeting: 
MQT on 2016-02-22
Session date: 
February 22, 2016
Reference: 
2016/0558
Question By: 
Caroline Pidgeon
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor
Category: 

Question

Last summer TfL reported securing loans of £1 billion and £500 million from the European Investment Bank (EIB) and Export Development Canada (EDC), respectively. In December TfL fixed the rates for a £150 million tranche with both EIB and EDC and savings of £49.4 million were generated in total over the life of the two tranches when compared with the forward adjusted Public Works Loan Board certainty rate on an undiscounted basis.

What proportion of the £49.4 million savings is connected to the tranche from the EIB?

Answer

Answer for TfL investment savings

Answer for TfL investment savings

Answered By: 
The Mayor

£30.8 million out of £49.4 million of savings is connected to the £150m EIB tranche.