Leading Advisors in Project Finance

  • Commercial Close Reached on North Battleford P3 Hospital

    2 September 2015

    Commercial close was reached on the North Battleford P3 project in Saskatchewan, Canada, on August 27, 2015.

    Carillion Private Finance and Gracorp Capital Partners each hold 50% equity stakes in the deal, which involved the refurbishment and rebuild of a mental health and correctional complex in the city of North Battleford.

    The C$180 million amortising bond was underwritten by TD Bank and National Bank Financial, and was priced at a spread of 210 basis points.

    The construction period will run until mid-2018 and will be undertaken by Graham Design Builders and Carillion Construction.

    The consortium’s financial advisor was National Bank Financial, with Operis pleased to have been involved by auditing their financial model at both the bid submission and commercial close stages.


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