Plenary Health Consortium’s AUD$1.5 Billion New Footscray Hospital

White & Case LLP advised the lenders to the Plenary Health consortium on all aspects of the project financing of the AUD$1.5 billion new Footscray Hospital.

The Plenary Health consortium, comprising Plenary Group (financial sponsor, 70 percent equity investor and asset manager), Multiplex (construction contractor), Honeywell and Compass Group (facility services providers) and Sojitz Corporation (30 percent equity investor), completed the project financing of the AUD$1.5 billion new Footscray Hospital, the single largest health infrastructure investment in Victoria, Australia, to date. 

The hospital is being delivered as a public-private partnership (PPP), with Western Health as the public operator of all clinical services and Plenary Health contracted by the Victorian Government to finance, design, construct, and maintain the hospital for 25 years following construction completion.

The lenders to the project are NAB, Westpac, Mizuho, Norinchukin, Crédit Industriel et Commercial and Nippon Life. 

The White & Case team in Australia that advised the lenders on the transaction was led by partners Joel Rennie (Picture) and Cameron Watson (both Sydney), with support from partner Alan Rosengarten (Melbourne) and associates Chris Wallace and Kian Newlyn (both Sydney) and Matt Sercombe and Yushu Xie (both Melbourne).

Involved fees earner: Kian Newlyn – White & Case; Joel Rennie – White & Case; Alan Rosengarten – White & Case; Matt Sercombe – White & Case; Chris Wallace – White & Case; Cameron Watson – White & Case; Yushu Xie – White & Case;

Law Firms: White & Case;

Clients: Crédit Industriel et Commercial; Mizuho; National Australia Bank; Nippon Life Insurance Company; Norinchukin Bank; Westpac Banking Corporation;

Author: Sonia Carcano