May 1998

Healthcare Group and CIBC Wood Gundy Oppenheimer have agreed to form a consortium to bid, as principals, for the next phase of UK Health PFI projects. The consortium also includes SDC Consulting, health economists, and Northcroft, cost consultants. The plan is for the same team to work together on a number of health projects outside the UK.

CIBC Wood Gundy Oppenheimer has a £125m global infrastructure equity fund, and is also a major international provider of project related debt finance.

CIBC Wood Gundy Oppenheimer is a leading global project financing institution, in particular:

CIBC have recently announced a merger with Toronto-Dominion Bank.

CIBC is the 8th largest bank in North America with a $200 billion balance sheet and a $3 billion equity portfolio.

CIBC was No. 1 arranger for project finance throughout America and 7th globally in 1995 (Project Finance International).

CIBC was the 6th largest global loan underwriting and distribution institution by dollar volume in 1996 and 8th by number of deals by 1996.

In terms of underwriting ability CIBC Wood Gundy Oppenheimer has the capacity to act as sole underwriter for PFI schemes in excess of £200 million.
Healthcare Group and CIBC will shortly be announcing details of the major international building contractor and facilities managers who will be joining the consortium for future health PFI projects.