International Public Partnerships Acquisition of First Danish Investments (8116V)
16 Diciembre 2021 - 1:00AM
UK Regulatory
TIDMINPP
RNS Number : 8116V
International Public Partnerships
16 December 2021
ACQUISTION OF first DANISH investments
16 December 2021
International Public Partnerships Limited ('INPP' or the
'Company'), the FTSE 250 listed infrastructure investment company,
has acquired an interest in a portfolio of four Danish
public-private partnerships ('PPP') projects (the 'Projects')
delivering availability-based, long-term, predictable cash flows.
The Company holds a majority interest in the portfolio, which was
acquired at a cost of c.GBP14 million.
This acquisition marks the Company's first investment in Denmark
and, through the growing presence of its Investment Advisor, Amber
Infrastructure ('Amber'), provides a platform for further
investment opportunities into the region.
The Projects, which provide essential infrastructure and are
geographically spread across Denmark, include:
-- a specialist land registry court archive building in Hobro
that accommodates 150 public sector employees;
-- a hospital car parking facility with c.550 parking spaces
adjoined to a regional hospital in Randers;
-- a 1,000-pupil school in Ørsted; and
-- an 800-pupil school in Vildbjerg.
The investments directly support targets outlined in Sustainable
Development Goals 4 (Quality Education), 9 (Industry, Innovation
and Infrastructure) and 16 (Peace, Justice and Strong
Institutions). Other key features of the investments include:
-- 100% availability-based revenue streams with public sector
counterparties backed by the Danish State;
-- Long-term stable cashflows with project length of up to 20 years;
-- A track record of strong operational performance; and
-- Essential infrastructure - the Portfolio's investments all
provide critical infrastructure services to their respective
communities.
Following financial close of the acquisition and draw down under
the facility the Company will be approximately GBP160 million drawn
against its GBP250 million corporate debt facility, including GBP9
million issued by way of a letter of credit to support the
Company's commitment to invest in the Flinders University Health
and Medical Research Building upon construction completion in March
2025.
Mike Gerrard, Chair of International Public Partnerships said:
"We are delighted that the Company has made its first investment in
Denmark and, through Amber, we are able to see an interesting range
of further investments opportunities in the region."
ENDS.
For further information:
Erica Sibree/Amy Edwards +44 (0)20 7939 0558/0587
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
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 more than 130
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 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 150 staff who are responsible for the
management of, advice on and origination of infrastructure
investments.
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END
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