INPP - Financial close on first NZ Investments

International Public Partnerships

09 June 2023

 

 inpp reaches financial close on FIRST new zealand investmentS

9 June 2023

International Public Partnerships Limited, the listed infrastructure investment company ('INPP' or 'the Company'), has successfully reached financial close on its acquisition of five New Zealand availability revenue-based social infrastructure investments.

The signing of binding agreements was previously announced on 9 December 2022. Financial close was achieved following regulatory approval from New Zealand's Overseas Investment Office ('OIO').

The c.NZD 218 million (c.£108 million) portfolio provides the Company with 100% ownership of five New Zealand investments.  These investments further increase the Company's contribution to the provision of essential infrastructure whilst meeting the environmental and social commitments required of it pursuant to its categorisation as an Article 8 financial product under the EU Sustainable Finance Disclosure Regulation ('SFDR').

Mike Gerrard, Chair of INPP, said: "These high-quality infrastructure assets represent INPP's expansion into the mature New Zealand market, diversifying our investment portfolio and complementing the Company's Australian activity. The five essential infrastructure investments are operational and generating stable, long-term, inflation-linked revenues from robust PPP contracts."

The investment has been funded using the recently extended revolving credit facility. Following the investment, the Company's £350 million revolving credit facility will be c.£125 million utilised (including c.£17 million already committed via letters of credit for near-term pipeline investments), leaving more than enough liquidity to meet its investment commitments which total c.£130m million across the offshore electricity transmission, transport, digital and social infrastructure sectors.

ENDS.

For further information:

Erica Sibree	[phone]
Amber Fund Management Limited
Hugh Jonathan	[phone]
Numis Securities
Ed Berry/Mitch Barltrop	[phone] / (0) 7807 296 032
FTI Consulting

About International Public Partnerships:

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in over 140 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia, New Zealand and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of approximately 180 staff who are responsible for the management of, advice on and origination of infrastructure investments.

 

END