On July 25, 2016, the Inspiredspaces consortium of Carillion and DIF has reached financial close on the Irish Schools Bundle 5 PPP project.
Under the contract, the consortium is responsible for the design, construction and finance of six new education facilities in the counties of Meath, Carlow, Wicklow and Wexford and the operations and maintenance of them for 25 years. Construction is expected to complete in early 2018.
Senior debt funding for the project is provided by Helaba and MUFG with each bank providing 50% of a 26-year term loan and an equity bridge loan. Each of the shareholders is investing 50% of the equity.
In its role as financial advisor to Inspiredspaces, Operis advised the consortium in developing the financial structure of the project, ran a funding competition to appoint the senior debt providers and provided financial modelling services.