DLA Piper advises Consortium of Lenders on financing of 25-year EUR380 million Higher Education Public Private Partnership contract

DLA Piper Ireland has advised a consortium of lenders, composed of Allied Irish Banks, p.l.c, The Governor and Company of Bank of Ireland, the European Investment Bank and Rabobank Wholesale Clients Netherlands (the Lenders), on the financing of a 25-year Higher Education Public Private Partnership (PPP) contract worth approximately EUR380 million with developer Invesis for the design, construction financing and maintenance of five new buildings at higher education campuses across Ireland.

The project represents a major milestone in Ireland’s Higher Education Public Private Partnership (PPP) programme and signals significant investment in the country’s education infrastructure delivering new facilities in the Atlantic Technological University (ATU) Galway and Letterkenny Campuses, South East Technological University (SETU) Waterford and Carlow Campuses and in the Technological University of the Shannon (TUS) Limerick Campus. Construction on all facilities in this project is now underway, with completions expected during 2027 and 2028.

DLA Piper Ireland’s finance team, led by partner Elizabeth Bradley, and DLA Piper UK's projects team, led by partner Liam Cowell, together acted as legal counsel to the Lenders. The multi-jurisdictional team from DLA Piper Ireland, DLA Piper UK and DLA Piper Nederland supported the Lenders with all aspects of the deal including development of a complex suite of finance documents addressing the bespoke requirements of each of the four Lenders and reviewing and negotiating the project documents with Invesis and the National Development Finance Agency, who are responsible for the procurement of this PPP project on behalf of the Department of Further and Higher Education, Research, Innovation and Science.

The transaction reinforces the firm’s leading position in advising on complex infrastructure projects across Europe and beyond.

Elizabeth Bradley, Partner at DLA Piper Ireland, said: “This is a transformational moment for Ireland’s third-level education sector and a flagship example of how PPP models can accelerate access to modern, future-proof facilities. We are proud to support its delivery.”

Jim Arigho, Climate Capital Director, AIB, added: “AIB and its partners in this consortium - the European Investment Bank, and Rabobank - are proud to be supporting Invesis and the Irish Government on this significant PPP initiative which will expand and modernise the country's higher education infrastructure. As a leading provider of sustainable finance in Ireland, we are committed to enabling investments that deliver long-term value to society. This project will enhance learning environments for thousands of students across the country, and we are pleased to be playing our part in fostering economic, social and educational progress.”

John Feeney, Chief Executive of Bank of Ireland’s Corporate and Commercial Banking division, said: “This project expands access to higher education, particularly in high-demand areas such as science, technology, engineering and mathematics. By supporting its financing, Bank of Ireland is helping to equip the next generation with the skills and knowledge needed to thrive in a rapidly evolving economy.”