The Region of Madrid has planned the construction of eight new
hospitals, of which the most important is the Puerta de Hierro Hospital
in Majadahonda, the object of this financing. This ultra-modern hospital
will in particular have 794 beds and 22 operating theatres.
The contract for the concession (granted to Dragados, Bovis and Sufi)
includes the construction and financing of the building as well as the
management for 30 years of its non-health services.
In accordance with the management model retained, the financing was
structured for the first time in Spain in the form of a Private Finance
Initiative (PFI). Dexia Sabadell, ING and Ahorro Corporation Financiera
(which combines 19 savings banks) are the co-arrangers of this
This deconsolidating model will be translated for the finances of the
Region by the payment of an annual sum to the concessionaire from 2007,
once the hospital is in operation.
After having collaborated with the Société Générale and Caja Madrid
in the most emblematic and important PPP in the history of the banking
system in Spain (financing the Madrid ring road), Dexia Sabadell is
again playing a leading role in structuring the first PFI in Spain (and
the most important of those planned).
Dexia Sabadell thus confirms its position as market leader in Public/Private Financing.