HICL Infrastructure PLC - investor in infrastructure assets - Sells 50% stake in University of Sheffield accommodation project for GBP18 million, a "small premium" to March valuation. "This transaction is further evidence of the value of HICL's portfolio and the disconnect between public and private market valuations for high-quality infrastructure assets," HICL says. Proceeds to go towards reducing balance of GBP650 million revolving credit facility. "Following completion of all announced disposals, drawings on the RCF are expected to be [around] GBP115 million," it adds. Its total disposals for the year now stand at nine. According to HICL, the asset comprises of over 4,000 bedrooms.
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By Eric Cunha, Alliance News news editor
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HICL Infrastructure (HICL)