HICL Infrastructure PLC New Investments (4603P)
10 Junio 2020 - 4:26AM
UK Regulatory
TIDMHICL
RNS Number : 4603P
HICL Infrastructure PLC
10 June 2020
10 June 2020
HICL Infrastructure PLC
"HICL" or "the Company" and, together with its subsidiaries,
"the Group", the London-listed infrastructure investment company
managed by InfraRed Capital Partners Limited ("InfraRed" or "the
Investment Manager").
New Investments
HICL is pleased to announce the following:
1) The acquisition of a further 74% interest in Holdfast
Training Services Limited ("Holdfast"), a PPP project that supports
the Royal School of Military Engineering ("RSME"), from Babcock
International Group PLC ("Babcock"). The 30-year public-private
partnership ("PPP") was signed in August 2008 and covers the
design, construction, refurbishment and maintenance of a number of
buildings and training areas across three UK locations on behalf of
the UK Ministry of Defence. Construction was completed in 2015. A
subsidiary of Babcock will continue to provide hard and soft
facilities management, as well as specialist training and training
support services. HICL acquired an initial 26% interest in Holdfast
in 2014 and, with completion of this incremental investment, will
hold a 100% interest.
2) The acquisition of the transmission assets associated with
the Walney Extension Offshore Windfarm (the "Walney OFTO") located
in the Irish Sea, by Diamond Transmission Partners ("DTP"). DTP is
a consortium comprising HICL, Diamond Transmission Corporation
Limited (a subsidiary of Mitsubishi Corporation) and Chubu Electric
Power Company Netherlands B.V. (a subsidiary of Chubu Electric
Power Co., Inc.). HICL previously announced DTP's status as
preferred bidder for the OFTO in March 2019.
The combined consideration was GBP103m and was funded from the
Group's existing resources and the Revolving Credit Facility.
Harry Seekings, Co-Head of Infrastructure at InfraRed said:
"These investments align with HICL's strategy of investing in
essential core infrastructure, with a strong social purpose,
delivering long-term returns. The Walney OFTO is supporting the
UK's transition to a low carbon future through the provision of
green energy to over 600,000 UK homes, while the RSME PPP supports
access to high quality education and training to approximately
7,000 service personnel annually for the Ministry of Defence. Both
investments are accretive to the existing portfolio, particularly
in relation to their forecast yield.
-ends-
Enquiries
InfraRed Capital Partners Limited +44 (0) 20 7484 1800 / info@hicl.com
Harry Seekings
Keith Pickard
Kirsty MacCallum
Teneo +44 (0) 7342 031051 / HICL@teneo.com
George Hutchison
Haya Herbert-Burns
Investec Bank plc +44(0) 20 7597 4952
David Yovichic
RBC Capital Markets +44 (0) 20 7653 4000
Darrell Uden
Aztec Financial Services (UK) Limited +44(0) 203 818 0246
Chris Copperwaite
Sarah Felmingham
HICL Infrastructure PLC
HICL Infrastructure PLC ("HICL" or the "Company", and together
with its subsidiaries the "Group") is a long-term investor in
infrastructure assets which are predominantly operational and
yielding steady returns. It was the first infrastructure investment
company to be listed on the London Stock Exchange.
With a current portfolio of over 100 infrastructure investments,
HICL is seeking further suitable opportunities, which are
positioned at the lower end of the risk spectrum within core
infrastructure.
Further details can be found on the HICL website www.hicl.com
.
Investment Manager (InfraRed Capital Partners)
The Investment Manager to HICL is InfraRed Capital Partners
Limited ("InfraRed") which has successfully invested in over 200
infrastructure projects since 1997. InfraRed is a leading
international investment manager focused on infrastructure and real
estate. It operates worldwide from offices in London, Hong Kong,
New York, Seoul and Sydney. With over 190 professionals it manages
in excess of US$12bn of equity capital in multiple private and
listed funds, primarily for institutional investors across the
globe. InfraRed is authorised and regulated by the Financial
Conduct Authority.
The infrastructure investment team at InfraRed consists of over
90 investment professionals, all with an infrastructure investment
background and a broad range of relevant skills, including private
equity, structured finance, construction, renewable energy and
facilities management.
InfraRed implements best-in-class practices to underpin asset
management and investment decisions, promotes ethical behaviour and
has established community engagement initiatives to support good
causes in the wider community. InfraRed is a signatory of the
Principles of Responsible Investment.
Further details can be found on InfraRed's website www.ircp.com
.
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END
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