The deal was structured as follows:
A Long-Term Facility:
The repayment of this facility, which amounted to a € 268 million amortising senior loan totalling 80% of capital expenditures, will be made by an unconditional payment obligation
by the CHSF that is not subject to any deductions or penalties.
This section of the deal benefited in particular from the Daily PPP Ordinance of 17 June 2004, which allowed for the hospital to grant the irrevocable assignment of receivables, which receives further mention in the "Guarantees" section.
B Long-Term Facility:
A € 45 million amortizing senior loan was established to bear the project performance risk. Whereas the A facility had an average life of roughly 23 years and a 35 year maturity, the B facility was set up to have a 24 year average life and a 33 year maturity.
VAT Facility:
The VAT portion of the financing was set up as a € 7 million revolving facility through cash advances, with the VAT amounts to be paid by the borrower. This facility is fully secured by the assignment of VAT repayments from tax authorities.
Equity Bridge Facility:
The three mandated lead arrangers provided a € 24 million equity bridge loan to pre-finance the injection of shareholders' funds, thus improving overall shareholders' returns. Eiffage guaranteed this facility and it was repaid with shareholders' funds at the initial commercial operation date, both in the form of equity and the shareholders' loan.