School of Biotechnology, Turin
Group Company
Benificiary
Start Date
End Date
Project Status
Instrument
Investments
Sector
Urban regeneration
Education and Innovation
Segment
Public Administration
The Biotechnology company, a project company formed by Sinloc together with other partners, has created the new School of Biotechnology at the University of Turin, through the adoption of a Project Finance scheme. The intervention allowed the development, within the time and costs foreseen, of a work with high architectural value and important social and economic value, which includes about 20,000 square meters of space used for teaching and research facilities and service spaces related to parking lots and courtyards.
Requirements
Sinloc’s intervention responds to the need for an integrated financial business plan compared to the original concession of 2003 and expansion of 2005, and operational support in the management of relations with the financing bank both with regard to aspects related to the ordinary and extraordinary management (asset restructuring). In addition, the contribution to the capital formation and financial support of the SPV was necessary; and
Defining the optimal governance and contractual aspects. Finally, the project performance was monitored continuously, verifying deviations, the impact on bank agreements and identifying any corrective actions.
Features
The intervention has structured the integrated financial plan of the original extension concession, has provided capital and financing partners necessary to establish and develop the SPV in conjunction with other partners (acquisition of an initial minority share of 8% and subsequent increase to 46.5%, jointly with the PPP Italy Fund). Planning, control and budgeting, company secretariat, administrative support, monitoring of operational and financial risks were carried out, monitoring of the banking covenants and support to the restructuring process and capital efficiency implemented in 2009.
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