...The U.K.-based limited-purpose entity BY Chelmer PLC (ProjectCo) issued ú162.65 million in 2007, to finance the design, construction, and maintenance of new facilities for Broomfield Hospital in Chelmsford, Essex. The facilities comprise a five-story, new-build 600-bed hospital that is connected to the existing hospital, and a new multi-story car park. ProjectCo operates the assets under a 35-year availability-based private finance initiative (PFI) agreement signed on Dec. 6, 2007, with the Mid and South Essex Hospital Services NHS Trust (the Trust) (formerly Mid Essex Hospital Services NHS Trust). Mid Essex Hospital Project Ltd. (MEHPL), a joint venture between Bouygues (U.K.) Ltd. and Bouygues Energies and Services FM U.K. Ltd., completed construction of the facilities in 2010. Under the project agreement, ProjectCo is responsible for undertaking hard facilities management (FM) and major maintenance (lifecycle) of the new-build hospital, along with the provision of minor services to the...
