University Medical Center Schleswig-Holstein: KfW IPEX-Bank finances Germany's largest PPP building construction project

Frankfurt am Main (ots) -

- Overall investment volume of EUR 520 million
- Bank club: KfW IPEX-Bank participates in financing together with
six other banks
- Transaction shows PPP is becoming more common in Germany

KfW IPEX-Bank in cooperation with five other commercial banks and
the European Investment Bank is financing the property public-private
partnership (PPP) of University Medical Center Schleswig-Holstein
(UKSH). The overall investment volume of this large-scale project,
which provides for comprehensive expansion, restructuring and
conversion measures on the medical center campuses in Kiel and
Lübeck, totals EUR 520 million. As part of a complex financing
structure KfW IPEX-Bank as syndicate partner of a commercial bank
club will provide debt capital for the project amounting to approx.
EUR 82 million and an additional, tranche of around EUR 100 million
made available to UKSH on a bilateral basis. The loans will be repaid
in the course of the 30-year project term.

"PPPs are becoming increasingly popular in Germany: The financing
for the Medical Center that has now been closed is another example of
how the flexible financing option of PPP is able to use the ample
liquidity of private investors in order to renew and expand social
infrastructure while at the same time easing the burden on
public-sector budgets. But in order to use these sources more easily
and also to be able to further develop the financial instruments,
this possibility needs to be used continuously at various public
levels and further standardised to make more efficient use of it,
especially in Germany", commented Christian K. Murach, member of the
Management Board of KfW IPEX-Bank, upon the closing of the
transaction.

KfW IPEX-Bank is making its funding commitment to UKSH against the
backdrop of an international bidding procedure by the federal state
of Schleswig-Holstein won by a syndicate consisting of Dutch
construction firm Royal BAM Group and Austrian hospital service
provider VAMED, which is part of German company Fresenius SE & Co.
KGaA. The overall measure serves to implement a new medical
structural concept for the campuses in Kiel and Lübeck including the
establishment of the relevant outside facilities and open spaces. All
its different components make this Germany's largest PPP building
construction project. Clinic operations will continue uninterrupted
while the work is being carried out.

Supporting PPP projects to expand and maintain social and economic
infrastructure in Germany and Europe is part of the core business of
KfW IPEX-Bank. The specialist financier based in Frankfurt am Main
can look back on numerous PPP project financings which it closed
together with other banks and institutional investors in Germany as
well as in other European countries including the UK and France.

Contact:
KfW IPEX-Bank GmbH, Palmengartenstraße 5-9, 60325 Frankfurt
Pressestelle: E-Mail: Thomas.Krick@kfw.de
Tel. 069 7431-8454, Fax: 069 7431-9409, E-Mail:
info@kfw-ipex-bank.de,
Internet: www.kfw-ipex-bank.de