St. James's Oncology Financing PLC

In March 2017, U.K.-based special purpose entity St. James's Oncology Financing PLC issued £173.15 million of notes, £57.0 million of fixed-rate bonds, and £38.0 million of index-linked bonds, all due March 2037. The issuer on-lent the proceeds to St. James's Oncology SPC Ltd. (SJO; ProjectCo) to refinance long-term senior debt issued in 2004 to finance, construct, and operate a 350-bed oncology wing (the Bexley Wing) for St. James's University Hospital in Leeds. ProjectCo operates under a 33-year project agreement (PA) with Leeds Teaching Hospitals NHS Trust (the trust), which expires in December 2037. Lendlease Construction (EMEA) Ltd. (Lendlease) completed construction in December 2007. ProjectCo has subcontracted hard facilities maintenance (FM) and major maintenance (lifecycle) obligations to Engie Buildings Ltd. (Engie),

...In March 2017, U.K.-based special purpose entity St. James's Oncology Financing PLC issued ú173.15 million of notes, ú57.0 million of fixed-rate bonds, and ú38.0 million of index-linked bonds, all due March 2037. The issuer on-lent the proceeds to St. James's Oncology SPC Ltd. (SJO; ProjectCo) to refinance long-term senior debt issued in 2004 to finance, construct, and operate a 350-bed oncology wing (the Bexley Wing) for St. James's University Hospital in Leeds. ProjectCo operates under a 33-year project agreement (PA) with Leeds Teaching Hospitals NHS Trust (the trust), which expires in December 2037. Lendlease Construction (EMEA) Ltd. (Lendlease) completed construction in December 2007. ProjectCo has subcontracted hard facilities maintenance (FM) and major maintenance (lifecycle) obligations to Engie Buildings Ltd. (Engie), under a fixed-price contract. Engie retains lifecycle risk on the estate. SJO has passed its obligations related to medical equipment services (MES) maintenance and...

Full Report