For the Operis offices in London and Toronto, the week commencing March 9 was an exceptionally busy one.
In the UK education sector, Operis signed off the audit of the financial model for the first batch of the Government’s Priority Schools Building Programme to secure finance. Simultaneously, a separate Operis team reviewed the financial model of the Aggregator Vehicle which provides senior debt to the batch company.
Two UK healthcare projects also achieved close: Dumfries & Galloway Royal Infirmary and the long-awaited Papworth Hospital. Operis audited the model for each transaction on behalf of the respective senior funders and equity investors.
In the biomass sector, Balfour Beatty and partners closed the 9MW Welland Biomass plant. The project’s financial model was developed by Operis and audited by an independent team at the firm.
In Ireland, a consortium of Carillion and Kajima on March 10 submitted its bid for the Courts Bundle PPP programme, part of the €2.25 billion Stimulus Package. Operis acted as financial advisor to Carillion Kajima.
In Canada, Blackbird Infrastructure, a project company equally owned by Cintra and Holcim, issued bonds to finance the C$1.55 billion Highway 407 DBFM project. Operis reviewed the financial model on behalf of the bond investors and equity participants.