Ashurst advised on TXF Healthcare Export Finance Deal of the Year
09 June 2022
09 June 2022
Ashurst advised MUFG, the lenders and UK Export Finance to support the development and construction by NMS Infrastructure Limited of a portfolio of six new hospitals under a €326 million export contract in the Republic of Cote d'Ivoire.
The project comprises the design, construction and equipping of six hospitals to be located at Bouaké, Boundiali, Katiola, Kouto, Minignan and Ouangolodougou, as well as post-completion training and technical support. Work on the hospitals has commenced and is expected to be completed in 2024. The project will provide fully-equipped modern healthcare services for a catchment area of more than a million people. The transaction, led by partner Tom Longmuir supported by counsel, Natasha Kavanagh and associates Samia Khennous and Alix Damecour, is the largest ever UK Export Finance-backed financing in francophone Africa.
Commenting, Ashurst International Projects Group partner Tom Longmuir said:
"We are delighted to have assisted our clients MUFG and UK Export Finance on a project which will generate significant social benefits throughout Cote d'Ivoire. Innovative structuring and the strong support of UK Export Finance were both critical in achieving this milestone. To be recognised by TXF is a testament to the firm's strength across the export finance industry, demonstrates the breadth and quality of our practice and reinforces our position as operating at the forefront of the wider projects market."