Plenary Group has completed an AUD180 million (USD115 Million) refinancing of the Queensland Schools project in Australia.

The agreement involves a structured senior debt solution spread across 5 and 10 years, with the National Australia Bank (NAB) serving as the exclusive lead arranger. This AUD1.52 billion (US$969 million) public-private partnership was established between the Plenary Group-led Plenary Schools consortium and the Queensland Government to construct and maintain 10 new schools in southeast Queensland for 25 years. Over five years, new schools were established at various locations, including Pimpama, Burpengary, Pallara, Ripley Valley, Springfield West, Griffin, Bellbird Park, Caboolture, and Redbank Plains. These schools, comprising two secondary and eight primary institutions, now accommodate up to 10,000 students. 

Work commenced in January 2014, and the initial set of schools welcomed students as planned at the beginning of the 2015 academic year. The last school, Spring Mountain State School, was finished in December 2018, ensuring readiness for the start of the 2019 school year.