An AMP Capital-backed consortium has secured a A$2.2bn (€1.4bn) sustainability loan – believed to be the largest of its kind in the global healthcare sector – for the Royal Adelaide Hospital.
The 800-bed hospital, a key asset in AMP’s Capital’s Community Infrastructure Fund (CommIF), is a public-private partnership (PPP) between Celsus and the South Australian Government in Adelaide.
CommIF owns 17.26% of Celsus. Other investors in the consortium include Aberdeen Standard Investments and a number of global infrastructure funds.
CommIF portfolio manager, Charles Savage, said: “A consortium of 18 global banks was involved in putting the loan together.”
He told IPE Real Assets the loan was for four years, the typical post-construction revolving financing arrangement for a PPP project.
“The hospital has been designed with lots of green features,” he said.
Savage said it was the focus on green principles in the design and construction of South Australia’s largest public hospital that helped secure the refinancing package.
The facility was also the first to be issued with a social loan component in Australia, and the largest combined green and social loan in the healthcare sector globally, he added.
The AMP Capital fund bought John Laing’s stake in Celsus in March this year after the hospital had ironed out a number of teething problems.
Royal Adelaide Hospital was the first large-scale hospital complex in Australia to achieve a 4 Star Green Star – Healthcare ‘As Built’ rating from the Green Building Council of Australia.
To read the digital edition of the latest IPE Real Assets magazine click here.