Grupo San Jose closes bond refinancing of Chilean hospital concession

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Grupo San Jose closes bond refinancing of Chilean hospital concession

Grupo San Jose, through its Chilean unit Concesionaria San Jose Tecnocontrol S.A., has closed a bond refinancing of about UF6.3 million (US$252.5 million) for its Chilean hospital concession.

The bond issue has been structured by Banco Itaú, which has also acted as financial advisor. 

The Chilean hospital concession, named "Programa de Concesiones en Infraestructura Hospitalaria, Hospital de Maipú, Hospital de la Florida" (Hospital Infrastructure Concession Programme, Maipu Hospital, La Florida Hospital), was the first hospital concession promoted by the Government of Chile.

The concession includes the design, execution, provision and assembly of industrial equipment as well as the maintenance and provision of non-clinical services to two hospitals, one in Maipu and another in La Florida for a period of 15 years from 2013. Both hospitals, with a total surface of nearly 70,000 m² each, incorporate high technology standards and provide the Chilean Health Care System with 766 beds, 391 beds in La Florida Hospital and 375 beds in Maipu Hospital.

The former president of the Republic of Chile, Mr. Sebastián Piñera, inaugurated the hospitals of Maipu and La Florida, both in Santiago de Chile, the 7th and 28th of December 2013.

The total project investment was estimated at US$300 million. Concesionaria San Jose Tecnocontrol S.A. closed financing for the project in February 2011. The agreement was reached with the following entities: Banco Bilbao Vizcaya Argentaria Chile, Banco BICE, Corpbanca, Banco Itaú Chile, Banco del Estado de Chile, Scotiabank Chile, Banco Security and Banco Consorcio.

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