£150 million Revolving Credit Facility

BBGI Global Infrastructure S.A.

05 November 2024

 

5 November 2024

BBGI Global Infrastructure S.A.

("BBGI" or the "Company")

£150 million Revolving Credit Facility

BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global infrastructure investment company, is pleased to announce that the Group has secured an amendment and extension to its multi-currency Revolving Credit Facility ("RCF") with three existing lenders (ING, DZ, KfW) and Barclays as the new fourth lender, replacing SMBC. Under the new agreement, the commitment size has been reduced from £230 million to £150 million.

The final maturity date has been extended by two years to May 2028, with options for two further one-year extensions post this date. The margin on the amended and restated RCF is 170 bps over the relevant reference rate. The revised RCF also includes a provision for a further uncommitted £100 million incremental accordion tranche, for which no commitment fees will be paid.

Duncan Ball, CEO of BBGI, said:

"The revised RCF will reduce commitment fees and is reflective of BBGI's proactive financial management. Our financial liquidity remains strong with a net cash position of £20.6 million as of 30 June 2024 and a strong dividend cover of 1.47x, providing us substantial headroom to consider any future investment opportunities."  

FOR FURTHER INFORMATION, PLEASE CONTACT:

BBGI	[phone]
Duncan Ball, CEO
Michael Denny, CFOO
Dilip Kejriwal, Director of Investor Relations
H/Advisors Maitland (Communications advisor)	[e-mail]
James Benjamin	[phone]
Rachel Cohen	[phone]

NOTES

BBGI Global Infrastructure S.A. (BBGI) is a responsible infrastructure investment company and a constituent of the FTSE 250 that invests in and actively manages for the long-term a globally diversified, low-risk portfolio of essential social infrastructure investments.

BBGI is committed to delivering stable and predictable cash flows with progressive long-term dividend growth and attractive, sustainable, returns for shareholders. BBGI has a proactive approach to preserving and enhancing the value of its investments, and to delivering well maintained social infrastructure for communities and end users, whilst serving society by supporting local communities.

All of BBGI's investments are supported by secure public sector-backed contracted revenues, with high quality inflation linked characteristics. BBGI's investment portfolio is 100% operational with all its investments located across highly rated investment grade countries with stable, well developed operating environments.

BBGI's in-house management team is incentivised by shareholder returns and consistently maintains low comparative ongoing charges.

Further information about BBGI is available on its website at www.bb-gi.com*.

The Company's LEI: 529900CV0RWCOP5YHK95

Any reference to the Company or BBGI refers also to its subsidiaries (where applicable).

* Neither the Company's website nor the content of any website accessible from hyperlinks on its website (or any other website) is (or is deemed to be) incorporated into, or forms (or is deemed to form) part of this announcement.

 

END