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| BAM-PGGM reaches financial close on the Courts Bundle PPP Project, Ireland The National Development Finance Agency (NDFA), acting as agent for the Courts Service, and BAM PPP PGGM Infrastructure Coöperatie U.A have reached financial close on the Courts Bundle PPP Project in Ireland. The contract value is approximately €135 million. The overall objectives of the project include the design, build, finance and maintenance of facilities at seven courthouses, ranging in size from 1, 354 m² to 8, 490 m² in gross floor area: Cork City - The refurbishment and extension of the existing landmark courthouse building at Anglesea Street to accommodate six courtrooms, improved custody facilities, court offices, the regional office and associated facilities. Drogheda, Co. Louth - A new courthouse consisting of two courtrooms and associated facilities to be constructed on a landmark town centre site adjacent to the River Boyne. Letterkenny, Co. Donegal - A new courthouse to accommodate four courtrooms and associated facilities to be constructed on a town centre site close to the existing courthouse. Limerick City - A new criminal courthouse to be built on a site adjacent to Limerick Prison, to include six courtrooms, custody facilities, court offices and associated facilities. Mullingar, Co. Westmeath - The refurbishment and extension of the existing historic courthouse in Mullingar to accommodate three courtrooms, improved custody facilities, court offices and associated facilities. Waterford City - The refurbishment and extension of the existing historic courthouse in Waterford to accommodate six courtrooms, improved custody facilities, court offices and associated facilities. Wexford Town - The refurbishment and extension of an existing landmark building to provide a new courthouse for Wexford Town consisting of four courtrooms, custody facilities, court offices and associated facilities. Construction activities will be carried out by BAM Building. Completion is expected in 2017. BAM FM Ireland will be responsible for the hard and soft facilities management during a 25 year concession period. The financing package which was fully structured and arranged by The Mitsubishi UFJ Financial Group included both bank loan and private placement note facilities as well as equity financing. The financing parties involved were MUFG as sole Note Arranger and MLA and Talanx Asset Management GmbH as noteholder. The equity investors were BAM PPP PGGM Infrastructure Coöperatie U.A. BAM's consultants included Arthur Cox and KPMG. DLA Piper provided legal advice to the banks. The NDFA's legal advice was provided by McCann FitzGerald, financial advisors were also NDFA. write your comments about the article :: © 2015 Construction News :: home page |