ARTICLE · 07 APRIL 2009

Irish Schools PPP Reaches Financial Close

Clyde & Co

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Shadbolt has advised Sodexo Limited as FM Contractor on the first bundle of Ireland's Schools PPP Programme which reached financial close on 6 March 2009.

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Shadbolt has advised Sodexo Limited as FM Contractor on the first bundle of Ireland's Schools PPP Programme which reached financial close on 6 March 2009.

The scheme involves replacing existing schools at Ferbane, Banagher, and Portlaoise with four new builds. Portlaoise will get two schools on a single site, to be run independently under separate boards of management. As the SPV, Macquarie Partnerships for Ireland will design, build, finance, and operate the schools for 25 years.

Bank of Ireland is the funder of the €80m debt package and Pierse Contracting is the main contractor. Sodexo will operate and maintain the schools for 25 years on this scheme when they come operational following a 15 month construction programme.

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