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Refinancing of the University Hospital Schleswig-Holstein in Germany

Invesis has successfully refinanced the University Hospital Schleswig-Holstein project in Germany.

In 2014 Invesis were awarded the University Hospital Schleswig-Holstein (UKSH) project in the North of Germany, one of Europe’s largest centres for medical care in its two locations, Kiel and Luebeck. Emphasising our long term commitment to our projects and partners and delivering on our mission to build lasting legacies for future generations, in 2022 Invesis increased its share in the UKSH project from 45% to 95%.

With a financially sustainable future in mind, and on behalf of the sponsors, Invesis successfully secured a €134 million long-term refinancing package for the UKSH project. The refinancing, which reached financial close on 31 March 2023, will not only reduce operational complexity for the project by reducing the number of senior lenders from 6 to 1, it also creates shareholder value, and importantly provides the public authority a reduction in monthly payments from going forward.

Existing lender LBBW is now the sole lender, agent, and account bank while original lenders European Investment Bank (EIB), DZ Bank, SMBC, KfW-IPEX and SEB have exited the project​.

Commenting on the transaction, Chris Williams CEO, said: ‘Invesis has been fully engaged in managing the delivery of the UKSH project with our client and partners for nearly 10 years, since financial close, and with this refinancing illustrate how our team of experts can add value for the project stakeholders. We look forward to continuing to work with our client and partners for the remaining project duration until 2044.

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