Leading Advisors in Project Finance

  • Operis Support Espoo Schools PPP Project Reaching Financial Close

    10 June 2020

    Operis was pleased to provide a full model audit and tax and accounting review for YIT and Meridiam Investments II for the Espoo Schools PPP in Finland.

    On June 9, 2020, Kumppanuuskoulut Oy, a project company owned by YIT and Meridiam, successfully reached financial close to raise over €160 million of senior debt from EIB, NIB and OP Corporate Bank.

    This is Finland’s first Public-Private Partnership involving social infrastructure, and is part of Espoo’s investment programme called “Schools in Shape”. Eight schools and day-care centres will be built which will service 4,000 children and young people.

    This project intends to improve the learning environment for pupils and teachers, whilst ensuring a high level of air quality for those on the site.

    Roman Pronin, Manager at Operis based in London, says “We are delighted to be involved in supporting YIT and Meridiam in reaching a successful financial close. It is encouraging to see this project going ahead as scheduled despite the potential challenges of Covid-19. We wish Meridiam and YIT the very best of luck and look forward to building on our relationship in the future.”.

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