NHS Fife PPP

QMPF supported NHS Fife through the process for the refinancing of its Victoria Hospital PFI project to achieve a lower cost of funding and reduced ongoing service payments. QMPF supported the Board in assessing and reviewing the proposed transaction, considering the form in which the refinancing gain was realised, reviewing consistency with project agreement obligations and HMT guidance, reviewing project documentation changes and addressing internal governance requirements. QMPF provide specialist expertise to review and analyse the implications from replacement of eight existing lenders with a single index linked loan from Aviva, along with the breakage for associated interest rate and inflation swaps. The transaction extended QMPF’s long track record for delivery of project finance transactions and supporting public and private sector partners in demonstrating best value from projects, and implementing significant contract change.