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 Hospital 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 lower the financing costs for the County Council by SEK 2.1 billion.
The project was the first hospital Public-Private Partnership (PPP) in Scandinavia and one of the largest hospital PPPs in the world. SHP was awarded the procurement contract in 2010 and completed construction in 2017.