Acquisition Activity - First German Investment

RNS Number : 6822L

HICL Infrastructure PLC

17 May 2022

 

17 May 2022

HICL Infrastructure PLC

"HICL" or the "Company" and, together with its subsidiaries, the "Group", the London-listed infrastructure investment company managed by InfraRed Capital Partners Limited ("InfraRed" or the "Investment Manager").

Acquisition Activity - First German Investment

HICL is pleased to announce that it has acquired its first investment in Germany, a 50% equity interest in the B247 Mühlhausen-Bad Langensalza Road PPP (the "B247" or the "Project"). The interest was acquired from Vinci Concessions Deutschland GmbH ("VINCI"), paving the way for future partnership on the German road PPP pipeline. HICL's total investment into the Project will amount to c. EUR 12.0m.

The B247 is a new 22km road that will link the cities of Mühlhausen and Bad Langensalza, in the Land of Thuringia. The 30-year PPP covers the design, financing, construction, maintenance and operation of the B247. The Project reached financial close in September 2021 and construction is expected to be completed by VINCI Group companies in June 2025. The client is the Federal Republic of Germany.

As a greenfield availability PPP investment in a AAA-rated European jurisdiction, the Project sits both within HICL's investment strategy and HICL's vision to connect communities. The investment is accretive to key portfolio metrics and will be funded by HICL's existing credit facilities.

Edward Hunt, Head of Core Income Funds at InfraRed said:

"The successful delivery by InfraRed of over ten assets through construction and into operations for HICL's clients has been a strong source of outperformance for the Company's shareholders since IPO. We are pleased to be embarking on the delivery of the B247 Road in Germany, alongside a high-quality partner in VINCI. The B247 Road will be a key transport corridor: linking communities and supporting economic growth in the region; reducing congestion for residents; and improving road safety."

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Enquiries

InfraRed Capital Partners Limited   [phone] / [e-mail]

Harry Seekings

Edward Hunt

Helen Price

Kirsty MacCallum

Teneo                  [phone] / [e-mail]

Haya Herbert-Burns

Matthew Thomlinson

Jesse Mathews

Investec Bank plc                                                           [phone]

David Yovichic

RBC Capital Markets   [phone]

Matthew Coakes

Aztec Financial Services (UK) Limited                         [phone]

Chris Copperwaite

Sarah Felmingham

HICL Infrastructure PLC

HICL Infrastructure PLC ("HICL") is a long-term investor in infrastructure assets which are predominantly operational and yielding steady returns. It was the first infrastructure investment company to be listed on the London Stock Exchange.

With a current portfolio of over 100 infrastructure investments, HICL is seeking further suitable opportunities in core infrastructure, which are inherently positioned at the lower end of the risk spectrum.

Further details can be found on the HICL website www.hicl.com .

Investment Manager (InfraRed Capital Partners)

The Investment Manager to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in infrastructure projects since 1997. InfraRed is a leading international investment manager, operating worldwide from offices in London, New York, Seoul and Sydney and managing equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 100 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website www.ircp.com .

 

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