BAM consortium reaches FC on University Hospital Schleswig-Holstein

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
BAM consortium reaches FC on University Hospital Schleswig-Holstein

BAM PPP PGGM Infrastructure Coöperatie, (the joint venture between BAM PPP and PGGM) and its consortium partners VAMED and DIF have reached financial close on the University Hospital Schleswig-Holstein (UKSH) PPP project in Germany.

BAM (50%) and VAMED (50%) are responsible for the planning, new construction and renovation of one of Europe's largest centres for medical care at its locations in Kiel and Luebeck in Germany.

The total costs for construction and renovation amount to €520 million (US$658 million). 75% of the project finance debt will be provided by UKSH as milestone payments, the consortium partners and commercial funders will provide the remaining 25% of the debt as equity and long term funding.

The long term debt from the commercial funders will be provided by EIB, DZ Bank, KfW, LBBW, SEB and SMBC.

Construction will commence early 2015 and reach completion in 2021. The operational phase will include hard facilities management and technical management services and will run until 2044.

BAM's and VAMED's financial and legal advisers are PwC.

Christian K. Murach, member of the Management Board of KfW commented:

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.

Germany has several social PPP projects in tender stage.

List of country news

Country news

  • October 07, 2014

    SUSI Partners mandated for second renewable energy infrastructure fund

    Building on the successful strategy of SUSI's first Renewable Energy Fund the successor fund invests in a geographically diversified portfolio of operational and fully permitted solar and wind power plants across Europe. Read more
  • October 24, 2014

    First State European Diversified Infrastructure Fund acquires grid network in Germany

    The First State European Diversified Infrastructure Fund (EDIF) managed by First State Investments, the asset management arm of the Commonwealth Bank of Australia, has acquired 100% of Erdgasversorgungsgesellschaft Thüringen-Sachsen mbH (EVG) from E.ON and VNG - Verbundnetz Gas Aktiengesellschaft (VNG) in Germany. Read more
  • November 05, 2014

    Deutsche Bank hires Armin Rothauser as Head of Transportation, Infrastructure & Energy Finance

    Deutsche Bank announced last week it has hired Armin Rothauser as Managing Director and Head of Transportation, Infrastructure & Energy Finance. Read more
  • November 06, 2014

    DIF agrees the sale of nine German wind frams

    The DIF Renewable Energy Fund has executed a sale and purchase agreement (SPA) with the Allianz Renewable Energy Fund for the sale of 9 operational wind projects in Germany. Read more
  • November 17, 2014

    Balfour Beatty announces disposal of parts of German Rail Business

    Balfour Beatty, the international infrastructure group, has reached an agreement to sell parts of its German Rail business to Rhomberg Sersa Rail Group of Austria. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.