A consortium backed by AMP Capital has secured a sustainable loan of 2.2 billion Australian dollars (1.4 billion euros) – considered the largest of its kind in the global health sector – for the Royal Adelaide Hospital.
The 800-bed hospital, a key asset of AMP Capital’s Community Infrastructure Fund (CommIF), is a public-private partnership (PPP) between Celsus and the Government of South Australia in Adelaide.
CommIF owns 17.26% of Celsus. Other investors in the consortium include Aberdeen Standard Investments and a number of global infrastructure funds.
CommIF portfolio manager Charles Savage said: “A consortium of 18 global banks were involved in setting up the loan. “
He told IPE Real Assets that the loan was for four years, the typical post-construction revolving finance agreement for a PPP project.
“The hospital has been designed with many green features,” he said.
Savage said it was the emphasis on green principles in the design and construction of South Australia’s largest public hospital that helped secure the refinancing plan.
The facility was also the first to be issued with a social loan component in Australia, and the largest combined green and social health loan in the world, he added.
The AMP Capital fund bought John Laing’s stake in Celsus in March this year after the hospital addressed a number of start-up issues.
The Royal Adelaide Hospital was the first large-scale hospital complex in Australia to achieve a 4-star Green Star – Healthcare “As Built” rating from the Green Building Council of Australia.
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