HICL Infrastructure PLC - London-based infrastructure investment firm - Secures a GBP330 million sustainability-linked extension to its revolving credit facility, increasing its overall short-term credit facilities to GBP730 million. Says that it is a one-year facility expiring on July 28, 2023. Explains that it is a sustainability linked loan, where it will incur premiums or reductions to the interest charged on the facility based on its performance against environmental, social and governance key performance indicators. Therefore, the margin on the facility will vary between 162 basis points and 168 basis points.
Adds that the increased funding capacity will be used to support its immediate pipeline of acquisition opportunities.
"HICL has a strong and highly attractive pipeline of high-quality core infrastructure opportunities sourced by InfraRed, our investment manager. This accordion provides important additional liquidity for the company to progress its acquisition strategy," Chair Mike Bane comments.
Current stock price: 174.08 pence, up 0.2% in London on Friday
12-month change: up 1.7%
By Sophie Rose; sophierose@alliancenews.com
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HICL Infrastructure (HICL)