Hamilton has acted for Swedish Hospital Partners AB (SHP) and its shareholders, Skanska and Innisfree, in connection with the partial prepayment and refinancing of its debt facilities for the New Karolinska Solna project. The transaction involved negotiations with eight commercial banks and two governmental lending institutions for the prepayment of certain commercial lenders, and a reduction in margin from the remaining commercial lenders. In connection with the refinancing, the Stockholm County Council agreed to make a SEK 3 billion one-time payment to SHP under its project agreement which SHP applied towards the prepayment. The refinancing will reduce the financing costs for the County Council by SEK 2.1 billion.
The New Karolinska Solna project was the first hospital Public-Private Partnership (PPP) in Sweden and one of the largest hospital PPPs in the world. SHP was awarded the procurement contract in 2010 and completed construction in 2017.
The Hamilton team was led by partner Eric Halvarsson and senior associate Cristy Cross and supported by associates Sofi Lissman and Seyran Sahin.