Refinancing

HSBC Infrastructure Company Limited 21 December 2007 PRESS RELEASE 21 December 2007 HICL refinances existing debt with £200m bank facility and completes £14.4m acquisition of interest in Home Office HSBC Infrastructure Company Limited ('HICL'), the listed infrastructure investment company, announces today it has refinanced the group's debt facilities with a five year £200 million facility from Bank of Scotland plc (the 'Refinancing') and completed the acquisition of additional equity and interests in the Home Office PFI Project (the 'Acquisition'). The Refinancing provides a £200 million multi-currency facility from Bank of Scotland, for a five year term and replaces the group's previous £135 million debt facilities. The debt is on better terms than the previous facilities and interest rates are partially hedged for the term of the facility. The Acquisition is for 14.14% equity and additional debt interests in the Home Office PFI Project, one of the Company's current portfolio investments for a fixed cash amount of £14.4 million. Shareholder approval for the acquisition was obtained at an Extraordinary General Meeting of HICL on 17 December. Full details of the Acquisition were set out in a circular to shareholders dated 20 November 2007. Tony Roper, Director, HSBC Specialist Fund Management Limited, HICL's Investment Adviser, said 'I am very pleased to have completed both the Home Office acquisition and debt refinancing. I believe the refinancing, with an increased facility size in a generally challenging debt market, underlines the strength of HICL's long term, stable cashflows from a quality portfolio of infrastructure assets.' HSBC Specialist Fund Management Limited Tony Roper +44 (0)20 7991 3935 M:Communications: Ed Orlebar +44 (0)20 7153 1523 Tilly von Twickel +44 (0)20 71531541 HSBC 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 manages a portfolio of mostly operational infrastructure projects and seeks to acquire further investment opportunities. The Investment Adviser to the Company is HSBC Specialist Fund Management Limited (HSFML), whose infrastructure investment team has successfully invested in infrastructure projects since 1997. HSFML is part of HSBC Specialist Investments, the infrastructure and real estate investment arm of the HSBC Group, and is authorised and regulated by the Financial Services Authority. This information is provided by RNS The company news service from the London Stock Exchange
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