The Elazig Hospital PPP reached financial close in early December 2016. The project involves the development, ongoing operation and maintenance of a 1,038 bed hospital located in Elazig, Turkey.

The total project financing requirement was EUR 360m. This financing included a EUR 288m bond, with the remaining financing provided by the equity investors Meridiam and Rönesans. The financing includes credit enhancement in the form of political risk insurance provided by MIGA and a liquidity facility provided by EBRD, allowing a portion of the bond to receive a credit rating two notches higher than the current sovereign rating of Turkey.

Operis carried out a financial model audit on behalf of the senior lenders and the equity investors.

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Please get in touch with either of our regional offices.

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Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

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Carmen Wade
Financial Advisory, Head of North America

+1 647 243 3840

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Jun Tao
Global Head of Model Audit & Financial Modelling

+44 207 562 0428

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Mark Southall
Associate Director - Model Audit & Financial Modelling

+1 647 846 7384

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Philip Allen
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Operis Europe

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Operis North America

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+1 647 846 7382
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Discuss your requirements with us

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Erwan Fournis
Global Head of Financial Advisory

+44 207 562 0444

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Chris Aldred
Director

+44 207 562 0433

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