|
Nick Iliff is a partner in Gowlings’ London office. He is a member of the Firm’s Energy Infrastructure and Mining Group. His particular expertise is in the fields of project finance and real estate finance. Over the last twelve years, Nick has predominantly been involved in focusing on the very active U.K. PPP (P3) market in which he has closed more than 70 deals.
In the majority of cases Nick represented the funders but he has also covered sponsor, procuring authority and first tier sub-contractor roles. Nick has worked on a very wide range of health PPPs. He acted on the original financing of nine hospital PFI projects over a seven year period representing the banks and sponsors. Nick has also had extensive involvement in Local Improvement Finance Trust schemes for the provision of primary care where he dealt with the 11 original financings and numerous post-completion variations of those schemes. Nick was involved in the first wave of Independent Sector Treatment Centre schemes (five separate projects).
In the secondary financing of health schemes, Nick has acted in relation to the sale of 12 operational PFI schemes to an equity investor and on two hospital sales to a different investor. He is also frequently involved in post-completion variations to operational schemes.
Nick was involved in the due diligence in relation to the £1 billion acquisition of a portfolio of 45 operational projects
Nick has a broad range of experience in Education PPPs acting for all different deal groups across most of the financing models for U.K. schemes - PFI, BSF, and grouped schools projects. Nick was involved in a number of the pathfinder schemes at the inception of the BSF program. In total, he has acted for 13 different clients across 23 initial financings.
Nick has acted on a majority of the deals in relation to PPP leisure projects in England which have been completed in the market. This has covered their initial financing and a number of refinancing and disposals of projects after their initial funding covering both total refinancing and sales of the subordinated debt positions.
Nick has acted on six social housing PFI’s using both the HRA and non-HRA model. He is an acknowledged expert on the contractual treatment of residual value on the non-HRA schemes, having closed the first non-HRA social housing deal in the U.K.. He has acted for funders and registered social landlords.
In addition to the above sectors, he also has experience in funding and closing project financings in municipal accommodation, street lighting, defence, waste, highways maintenance and university accommodation.
Nick counseled MAVO in Budapest to deliver Central European deal of the year in 2004 and continues to advise funders on real estate finance schemes.
|
