International Public Partnerships Additional Interest in BSF Project and PFI Schemes (1154U)
01 Diciembre 2021 - 1:00AM
UK Regulatory
TIDMINPP
RNS Number : 1154U
International Public Partnerships
01 December 2021
INPP acquires additional interestS in BSF PROJECTS AND PFI
SCHEMES
1 December 2021
International Public Partnerships Limited, the FTSE 250 listed
infrastructure investment company ('INPP' or the 'Company'), has
acquired additional interests in the Bradford and Lewisham Building
Schools for the Future ('BSF') projects (the 'BSF Projects') and
interests in three healthcare Private Finance Initiative ('PFI')
schemes ('Three Shires'). These interests have been acquired from
Costain Pension Scheme Trustee Limited at a cost of c.GBP29.5
million.
The BSF Projects collectively comprise 14 schools providing
education facilities to over 17,000 pupils across the Bradford and
Lewisham areas in the UK. The investment builds on the Company's
existing portfolio of BSF projects, supporting the Company's
commitment to providing a high-quality teaching environment to
pupils across the portfolio. The majority of the Lewisham and
Bradford investments have been designed and built in line with
BREEAM, a leading sustainability assessment method for
masterplanning projects, infrastructure and buildings, each scoring
'Very Good' or 'Excellent'.
The Three Shires schemes comprise the design, build, funding and
partial operation of four small community healthcare facilities
under the Three Shires banner located in East Lincolnshire,
Leicester and Derbyshire. The facilities provide a range of
community health services including dentistry, diagnostics and
mental health rehabilitation.
The Company's investment will increase its share in the BSF
Projects by between c.7% and 36% and provide a 50% share in each of
the Three Shires schemes. Upon completion the Company will hold a
90% interest in three of the Lewisham BSF schemes and 81% in the
fourth, and c.22% and c.31% interests in phase 1 and phase 2 of the
Bradford BSF schemes respectively.
The investment has been funded through the Company's GBP250
million revolving credit facility, which following the investment
will be GBP137 million drawn.
Mike Gerrard, Chair of International Public Partnerships , said:
"We are very pleased to make this further investment into the
Bradford and Lewisham BSF projects and the Three Shires scheme,
building on the Company's existing portfolio of UK schools and
healthcare facilities that support the communities in these
regions."
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'):
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 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 over 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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