Increase & extension of revolving credit facility

RNS Number : 4981D

HICL Infrastructure Company Ld

31 March 2014

 



31 March 2014

HICL Infrastructure Company Limited

Increase and extension of revolving credit facility

HICL Infrastructure Company Limited (the "Company"), the listed infrastructure investment company, is pleased to announce the signing of an increase and extension of its revolving credit facility ("RCF"), which benefits from two additional lenders.

The existing £100m RCF, jointly provided by Royal Bank of Scotland and National Australia Bank, and which was due to expire in February 2015, has been increased to £150.0m and its term extended to May 2016 with the margin reduced to 2.20%.  The new lenders are Lloyds Bank and Sumitomo Mitsui Banking Corporation.

With the RCF now available until May 2016, the Company will be able to confirm sufficient working capital for the financial years ending 31 March 2014 and 31 March 2015 prior to needing to refinance.

Keith Pickard, Director, Infrastructure at InfraRed Capital Partners Limited, the Company's Investment Adviser said:

"With the growth of the Company's investment portfolio and the size of the potential acquisitions coming to the market, the new facility fulfils multiple objectives: an increased amount, two additional lenders, a more appropriate refinancing date and an improvement in the terms."

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Enquiries

InfraRed Capital Partners Limited                            [phone]

Tony Roper
Keith Pickard
Robin Hubbard

Tulchan Communications                                            [phone]

Martha Walsh
Victoria Huxster

Canaccord Genuity                                                          [phone]

Dominic Waters
Neil Brierley
Will Barnett
David Yovichic

HICL Infrastructure Company Limited

The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns.  It was the first infrastructure investment company to be listed on the London Stock Exchange.  It currently owns a portfolio of 93 social and transportation infrastructure investments and is seeking further suitable investment opportunities which fit its stated Investment Strategy.

Further details of the Company can be found on its website www.hicl.com.

Investment Adviser

The Investment Adviser to the Company is InfraRed Capital Partners Limited, whose infrastructure investment team has successfully invested in over 160 infrastructure projects since 1997.  InfraRed manages specialised funds and co-investment capital on behalf of a broad range of investors from around the world, creating value through investing in infrastructure and real estate projects.  The head office is in London, with offices in Hong Kong, New York, Paris and Sydney.  InfraRed is authorised and regulated in the UK by the Financial Conduct Authority.

Further details of the Investment Adviser can be found on its website www.ircp.com.

 

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