The Stanton Territorial Hospital P3 project in the Northwest Territories, Canada, reached financial close on September 25, 2015.
The DBFM Project involves the redevelopment of the Stanton Territorial Hospital, an acute care facility which currently employs 507 staff. The successful consortium, Boreal Health Partnership, comprised Carillion Private Finance, AG Hochtief Solutions, and Bird Capital.
BMO acted as financial advisor to Boreal Health Partnership and CIBC underwrote the C$127 million amortising bond which will be used to finance the redevelopment. It was rated A3 by Moodys.
On behalf of the winning consortium, Operis was pleased to provide a full audit of the financial model both at bid stage and financial close, which included a review of the model’s tax and accounting assumptions.