Financial close for new transportation PPP Project

RNS Number : 3346D

BBGI SICAV S.A.

26 October 2015

 



26 October 2015

BBGI SICAV S.A.

(the "Company")

Financial close for new transportation PPP Project in Canada

BBGI SICAV S.A. (LSE ticker: BBGI) is pleased to announce that it has achieved financial close for the North Commuter Parkway PPP project, in Saskatoon, Saskatchewan, Canada.

BBGI is a 50% equity investor in the consortium that will design, build, finance, operate and maintain the infrastructure for a period of 30 years. The North Commuter Parkway Project involves the replacement of the 107-year-old Traffic Bridge in Saskatoon's downtown core as well as the development of a new six-lane bridge crossing the South Saskatchewan River in the City's north end and 8.3 kilometres of new arterial roadways.

Construction works relating to the project will be undertaken by Graham Construction. All construction obligations have been passed down to the builder. The concession term runs for 30 years plus a 3-year construction period. Payments under the project will all be availability based. BBGI expects to receive distributions throughout the concession period once the project becomes operational. BBGI's investment will be financed out of existing cash resources and borrowings under the credit facility.

Frank Schramm, Co-CEO said:

"We are excited to be involved in the development of this important infrastructure project. The project will improve travel efficiency within Saskatoon and will create jobs for local workers."

Duncan Ball, Co-CEO said:

"This transaction demonstrates our ability to grow our portfolio of infrastructure investments not only by acquiring operational projects but also by partnering with construction companies in consortium bids on primary market opportunities such as North Commuter Parkway. BBGI will continue to selectively pursue further growth opportunities in both new and existing assets."

For further information, please contact:

BBGI Management Team        [phone]

Duncan Ball

Frank Schramm

BBGI owns a global portfolio of 37 infrastructure assets. These are PPP assets and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.

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

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.

 

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