Lovells

Lovells acted for Albion Healthcare (Doncaster) Limited and for Dexia Public Finance Bank in the PFI project for Doncaster & South Humber Healthcare NHS Trust,  which closed on 11 August 2003.  This is only the second 'dual role' transaction (where a law firm advises both the project vehicle (Albion Healthcare) and the senior lender (Dexia)) to reach financial close in the healthcare PFI sector. 

The first dual role transaction, in May 2002, was a ₤35m project for Nuffield Orthopaedic Centre NHS Trust, where Lovells also acted for Albion Healthcare and Dexia.   The ₤20m Doncaster PFI project consists of the design, financing and building of mental health facilities for older people and mental health rehabilitation facilities in Doncaster, and the provision of facilities management services for a period of 27 years.  Albion Healthcare (Doncaster) Limited, is a consortium comprising Barclays Private Equity and United Medical Enterprises.  

The Lovells team was led by project finance partner, Jason Radford.  The team comprised David Lane (partner, property), Joel Nesbitt (corporate), Lisa Calderwood (construction), Louise Tirado (FM services), Andrew Gallagher (banking) and Steven Smith (banking), all members of the Lovells' Project Finance Unit.  

Jason Radford, speaking for the team, said: 

"This transaction highlights some of the efficiencies that can be realised using the dual role structure. We are increasingly finding ourselves acting on a dual role basis and believe that the practical efficiencies from the approach can be realised with the right combination of experienced principals and advisers. Our extensive experience of PFI/PPP projects, having acted for the public sector, sponsors and lenders across a wide range of industry sectors means we are well placed to perform this role in mature sectors of the PFI market."  

Doncaster & South Humber Healthcare NHS Trust was advised by Pinsents.    Construction and facilities management are subcontracted to HBG Construction and HBG Facilities Management respectively.  HBG Construction was advised by Masons.  HBG Facilities Management was advised by McClure Naismith.

Lovells' project finance practice is part of the international finance practice, which includes 89 partners and 180 other fee earners in 16 offices worldwide, focused on four main areas:

• banking
• business restructuring and insolvency 
• capital markets 
• project finance.