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Matheson Advises Lenders MUFG on Grangegorman DIT Campus Project
Matheson recently acted as Irish counsel for a syndicate of funders and lenders including Mitsubishi UFJ Financial Group (MUFG), the European Investment Bank, Sun Life Investment Managers and Talanx Asset Management in connection with the financing of Dublin Institute of Technology’s (DIT) €220 million Grangegorman Campus PPP project – one of Ireland’s largest educational campus developments financed through a public private partnership (PPP).
The project will involve the construction of two flagship buildings, the Central Quad and east Quad, and together will cater for 10,000 students and 600 staff. Scheduled to be ready for occupation for the 2020/21 academic year, the development will provide state of the art facilities for the DIT Colleges of Sciences and Health, Arts and Tourism and for the School of Electrical and Electronic Engineering.
The project will be funded by MUFG, the European Investment Bank, Sun Life Investment Managers and Talanx Asset Management. MUFG is one of the world’s largest comprehensive financial groups, comprising a diverse range of leading companies in a wide array of financial businesses. MUFG is headquartered in Tokyo, Japan.
The Matheson team was led by partners Peter O’Brien and Garret Farrelly.
Peter O’Brien, Partner in the Banking and Financial Services Department at Matheson said:
“Matheson is delighted to be involved in what is a welcome investment in Ireland’s higher education infrastructure. This project illustrates that there remains a strong appetite for the funding of traditional PPP models and it will go a long way in helping to drive Ireland’s ambitions to provide the best education and training service in Europe.”
Garret Farrelly, Partner and Head of the Energy and Infrastructure Group and Projects Group at Matheson said:
“At Matheson, our multi-disciplinary and cross departmental Projects Group consistently work together on the largest and most complex infrastructure projects (including PPPs) in the Irish market. It is this collaborative approach that distinguishes us and provides us with the cutting edge in the marketplace.”
Matheson’s Projects Group work with a range of clients including government, sponsors, financial institutions, private equity houses, building and civil engineering contractors and design professionals. We have extensive experience in advising clients on the procuring, designing, construction, financing, and operation of projects across a range of sectors including energy and natural resources, telecommunications, transport (roads, bridges, airports, ports and rail), waste, water, sewage, defence, education, housing, health, leisure and accommodation.