New Issue: St. James's Oncology Financing PLC

U.K.-based limited-purpose entity St. James's Oncology Financing PLC (the Issuer) has issued £268.1 million of guaranteed senior secured debt, comprising £173.146 million 2.804% notes, £57.0 million 2.804% fixed-rate bonds and £38.0 million 0.01% index-linked bonds. All issuance matures in March 31, 2037. The fixed-rate bonds include £7.0 million of variation bonds that may be released to the market at a later date. The Issuer on-lent the proceeds of the issuance to St. James's Oncology SPC Ltd. (ProjectCo) to refinance £183 million of existing debt, meet transaction and breakage costs (about £50 million) and to pay a £26 million refinancing gain to the Leeds Teaching Hospitals NHS Trust (the Trust) and shareholders. ProjectCo was created to finance, design, build, and operate

...U.K.-based limited-purpose entity St. James's Oncology Financing PLC (the Issuer) has issued ú268.1 million of guaranteed senior secured debt, comprising ú173.146 million 2.804% notes, ú57.0 million 2.804% fixed-rate bonds and ú38.0 million 0.01% index-linked bonds. All issuance matures in March 31, 2037. The fixed-rate bonds include ú7.0 million of variation bonds that may be released to the market at a later date. The Issuer on-lent the proceeds of the issuance to St. James's Oncology SPC Ltd. (ProjectCo) to refinance ú183 million of existing debt, meet transaction and breakage costs (about ú50 million) and to pay a ú26 million refinancing gain to the Leeds Teaching Hospitals NHS Trust (the Trust) and shareholders. ProjectCo was created to finance, design, build, and operate a new 350-bed oncology wing (the Bexley Wing) for St. James's University Hospital in Leeds. The project is backed by a 33-year and two-month agreement with the Trust, which was signed in October 2004 and expires in...

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