Allens has advised the Senior Financiers and Green and Social Loan Coordinators on the $2.2bn refinancing of the new Royal Adelaide Hospital (RAH) project, Australia’s largest hospital project and the first public private partnership in Australia to be financed through a green and social loan under the Green Loan Principles (GLP) and Social Loan Principles (SLP) published by the Asia Pacific Loan Market Association.
The RAH is an eligible project under the GLP and SLP based on its performance as a green building and its critical role in providing essential healthcare services to the people of South Australia, which has been clearly demonstrated by its role during the COVID-19 pandemic.
The Allens team was led by partner Nick Adkins, with support from senior associate Steven Faulkner and lawyer Alisha Arora.
‘The RAH is absolutely world-class and we are thrilled to have worked with the financiers to Celsus over many years, including on this significant refinancing. It is a credit to the Celsus team and the support of its financiers and sponsors that they have achieved such a successful outcome’, said Adkins.
The transaction adds to Allens’ extensive track record in the project financing of large-scale infrastructure projects through green and sustainability linked loans, with the firm having also recently advised on green loans for the Sydney Light Rail PPP, Canberra Metro PPP and New Generation Rolling Stock PPP.