St James's Oncology Financing: 03 April 2017
The Issuer is a special purpose company whose principal purposes are to issue bonds and to on-lend the respective proceeds to St James's Oncology SPC Ltd (the ProjectCo). The ProjectCo entered into a project agreement with Leeds Teaching Hospitals National Health Service Trust pursuant to which the ProjectCo agreed to finance, design, construct and provide facilities management and lifecycle maintenance to a new oncology wing for St James's University Hospital in Leeds, including the provision of medical equipment.
The National Health Service (Private Finance) Act 1997 conferred on an NHS Trust the power to enter into externally financed development agreements as part of the Government's PFI initiative.
The Leeds Teaching Hospitals NHS Trust structure was formed in 1998 and brought together two smaller hospital trusts under a single management. There are seven hospitals under The Leeds Teaching Hospitals NHS Trust, including St James's University Hospital.