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Irish schools PPP Bundle 2 reaches financial close

  • Press Releases 4 June 2010 4 June 2010

Clyde & Co has advised Sodexo Ireland Limited as O&M Contractor on the second bundle of Ireland's Schools PPP Programme which reached financial close on 2 June 2010.

The scheme involves the development of six schools in county Cork (a primary and post-primary school sharing a single campus), Limerick, Kildare, Wicklow and Meath. The project is the second of five bundles that make up Ireland's €1.3bn schools PPP programme.

A Macquarie led consortium will design, build, finance, and operate the schools for 25 years, with a JV of Sisk and Pierse carrying out the construction of the schools.

Sodexo will operate and maintain the schools for 25 years on this scheme when they come operational following the construction programme, with the first of the schools becoming operational in summer 2011 .

EIB, Bank of Ireland, NIBC have provided the €100m debt package.

The Clyde & Co team was led by projects partner, Liz Jenkins and associate Olivia Blessington. Commenting on the deal Liz said “We have worked with Sodexo on numerous projects in the education, defence and health sectors and were delighted to help Sodexo achieve financial close on this key project for the future of education in Ireland”. Jeremy Dicks, Managing Director of Sodexo Ireland Limited said "We are delighted to reach financial close on time, and look forward to working with the various local communities delivering services for the new schools".