The Government’s plan to take the Student Loans Company debt off its balance sheet has moved up a gear as firms have formally been invited to tender for the role as legal advisor in the sale of the company’s £40bn loan portfolio.
Announced last Friday (26 July), the Department for Business, Innovation & Skills (BIS) has invited tenders for legal advice on the monetisation of the SLC’s loans portfolio, which at the end of the 2012/13 financial year was valued at approximately £45bn. The precise structure of the monetisation is still being considered but it is likely to be either through a sale to the private sector or a securitisation. Invited firms have until 23 August to submit their bids.
