HICL Hicl Infrastructure Plc

TIDMHICL

RNS Number : 0868G

HICL Infrastructure PLC

23 November 2020

23 November 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 Long-dated Letter of Credit Facility

HICL is pleased to announce it has agreed an innovative new Letter of Credit Facility ("LCF") to support the Company's existing and future commitments to projects in construction. The facility is initially sized at GBP60m in line with the Company's current commitments, with an uncommitted GBP225m accordion, and a six-year maturity to 31 December 2026 to more appropriately match the long-dated tenor of construction commitments. The use of the LCF in this manner enables greater flexibility for shorter-term deployment within the capacity of HICL's existing GBP400m Revolving Credit Facility ("RCF"), to support execution of the Company's pipeline.

The new LCF will rank pari passu alongside the current RCF and will be used to issue longer-term letters of credit and, where necessary, draw cash to settle these obligations. The LCF is provided by Sumitomo Mitsui Banking Corporation and ING.

Harry Seekings, Head of Infrastructure at InfraRed, said: "We are pleased to have secured this innovative facility to match the tenor of HICL's longer-dated commitments with an appropriate debt profile, further enhancing the Company's balance sheet. Moreover, this facility provides HICL with additional flexibility to prudently pursue appropriate investment opportunities as they arise."

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Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800 / info@hicl.com

Harry Seekings

Keith Pickard

Edward Hunt

Kirsty MacCallum

Teneo +44 (0) 20 7420 3169

George Hutchinson

Haya Herbert-Burns

   Investec Bank plc                                                              +44(0) 20 7597 4952 

David Yovichic

   RBC Capital Markets                                                        +44 (0) 20 7653 4000 

Darrell Uden

Matthew Coakes

   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 150 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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November 23, 2020 02:00 ET (07:00 GMT)

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