3i Infrastructure Regulatory News (3IN)

3i Infrastructure plc

3i Infrastructure plc announces investment in La Santé PPP project

14 November 2014

3i Infrastructure plc ("3i Infrastructure" or "the Company") announces it has committed to invest €11.7 million to acquire an 80% holding in the La Santé Prison primary Public Private Partnership ("PPP") project in Paris.

The La Santé primary PPP project (the "Project") includes the design, build, refurbishment, finance and maintenance of various buildings for La Santé, the Paris prison. The Project will also include the provision of facilities management services once construction is complete, which is expected to be by the end of 2018.

The Project was procured under a typical PPP framework by the Agence Publique pour l'immobilier de la Justice ("APIJ"), part of the Ministry of Justice, and is part of a wider government initiative to modernise French prisons.

The remaining equity in the Project company, Quartier Santé S.A.S (the "Project Company"), will be held by subsidiaries of Vinci Construction France and GDF-Suez.

As part of the contractual arrangements for its commitment to invest in the Project, 3i Infrastructure has entered into an agreement (the "Purchase Agreement") with a subsidiary of 3i Group plc, BAM General Partner Limited ("BAM GP"). Under the Purchase Agreement BAM GP, the entity which originally qualified to participate in the Project, has agreed to transfer to 3i Infrastructure (or a subsidiary of 3i Infrastructure) its 80% shareholding in the Project Company. The consideration for such transfer amounts to €32,000. In addition, financial support for the commitment to invest in the Project has been provided by 3i Infrastructure pursuant to a €11.65 million letter of credit issued by 3i Infrastructure's lenders under the Company's revolving credit facility in favour of the lenders to the Project. The arrangements between BAM GP and 3i Infrastructure pursuant to the Purchase Agreement and the financial support provided by 3i Infrastructure constitute a smaller related party transaction under Listing Rule 11.1.10 R.

Peter Sedgwick, Chairman, 3i Infrastructure plc, commented:

"The Board is pleased with the investment in La Santé, which represents a further step in building the Company's exposure to primary PPP projects, alongside its focus on investing in Core infrastructure."

Ben Loomes and Phil White, Managing Partners and Co-heads, Infrastructure, 3i Investments plc, added:

"We are pleased to reach financial close of the La Santé primary PPP project. We are seeing a healthy pipeline of investment opportunities in European primary PPP projects."

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Notes to editors:

3i Infrastructure plc is a Jersey-incorporated, closed-ended investment company, listed on the London Stock Exchange and regulated by the Jersey Financial Services Commission. The Company is a long-term investor in infrastructure businesses and assets. The Company's market focus is on core economic infrastructure in developed economies, principally in Europe, in the utilities and transportation sectors, investing in operational businesses which generate long-term yield and can provide capital growth. It also has investments in social infrastructure and is building its exposure to primary PPP and renewable energy projects.

3i Investments plc, a wholly-owned subsidiary of 3i Group plc, is authorised and regulated in the UK by the Financial Conduct Authority and acts as Investment Adviser to 3i Infrastructure plc.