Greenwich NatWest recently priced the first securitization to finance the construction of a Welsh hospital. The GBP65.95 million ($97.8 million) single tranche deal - called Baglon Moor Healthcare Plc. - will enable Baglon Moor Healthcare to build and provide services for the new hospital in Neath, South Wales, on behalf of Brow Morgannwg NHS Trust.

Construction company Tilbury Douglas has been brought in to build the plants and additional services will be the responsibility of Caxton Facilities Management. Construction is scheduled for completion in 2002.

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