Hamilton Assignment

Hamilton has acted for Swedish Hospital Partners

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.