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University Medical Center Schleswig-Holstein: KfW IPEX-Bank finances Germany's largest PPP building construction project
Frankfurt am Main (ots) -
- Overall investment volume of EUR 520 million - Bank club: KfW IPEX-Bank participates in financing together with six other banks - Transaction shows PPP is becoming more common in Germany
KfW IPEX-Bank in cooperation with five other commercial banks and the European Investment Bank is financing the property public-private partnership (PPP) of University Medical Center Schleswig-Holstein (UKSH). The overall investment volume of this large-scale project, which provides for comprehensive expansion, restructuring and conversion measures on the medical center campuses in Kiel and Lübeck, totals EUR 520 million. As part of a complex financing structure KfW IPEX-Bank as syndicate partner of a commercial bank club will provide debt capital for the project amounting to approx. EUR 82 million and an additional, tranche of around EUR 100 million made available to UKSH on a bilateral basis. The loans will be repaid in the course of the 30-year project term.
"PPPs are becoming increasingly popular in Germany: The financing for the Medical Center that has now been closed is another example of how the flexible financing option of PPP is able to use the ample liquidity of private investors in order to renew and expand social infrastructure while at the same time easing the burden on public-sector budgets. But in order to use these sources more easily and also to be able to further develop the financial instruments, this possibility needs to be used continuously at various public levels and further standardised to make more efficient use of it, especially in Germany", commented Christian K. Murach, member of the Management Board of KfW IPEX-Bank, upon the closing of the transaction.
KfW IPEX-Bank is making its funding commitment to UKSH against the backdrop of an international bidding procedure by the federal state of Schleswig-Holstein won by a syndicate consisting of Dutch construction firm Royal BAM Group and Austrian hospital service provider VAMED, which is part of German company Fresenius SE & Co. KGaA. The overall measure serves to implement a new medical structural concept for the campuses in Kiel and Lübeck including the establishment of the relevant outside facilities and open spaces. All its different components make this Germany's largest PPP building construction project. Clinic operations will continue uninterrupted while the work is being carried out.
Supporting PPP projects to expand and maintain social and economic infrastructure in Germany and Europe is part of the core business of KfW IPEX-Bank. The specialist financier based in Frankfurt am Main can look back on numerous PPP project financings which it closed together with other banks and institutional investors in Germany as well as in other European countries including the UK and France.
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Thomas.Krick@kfw.de
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