BBGI Global Infrastructure Regulatory News (BBGI)

29 January 2015

BBGI SICAV S.A. (the "Company")

New Credit Facility for BBGI

BBGI SICAV S.A. (LSE ticker: BBGI), the international PPP / PFI infrastructure investment company, is pleased to announce that it has secured a new three year Revolving Credit Facility of £80 million from ING Bank and KfW IPEX-Bank. BBGI retains the flexibility to consider larger transactions by virtue of having structured a further £100 million incremental accordion tranche, for which no commitment fees are paid, which allows it to increase the facility to £180 million, at BBGI's option. This facility replaces a £35 million facility with Royal Bank of Scotland, National Australia Bank and KfW, which was due to expire in July 2015.

The facility will be used primarily to fund acquisitions and provide letters of credit for investment obligations, and the intention will be to repay the facility from time to time through equity fundraisings.

The term of the facility is three years, expiring in January 2018. The borrowing margin has decreased from 225 bps under the old facility to 185 bps over LIBOR under the new facility.

Frank Schramm, Co-CEO remarked:

"The larger facility gives BBGI the ability to complete larger portfolio transactions or acquisitions from multiple vendors very quickly. The revolving facility can be repaid through a future equity issue which is more cost efficient for investors. We are excited about the growth opportunities available to BBGI over the next three years and this new credit facility will support the continued growth of the business."

Duncan Ball, Co-CEO remarked:

"We are pleased to have been able to reduce the borrowing margin by 40 basis points and improve the terms of the facility. We have also kept our costs low by having a relatively small credit facility (£80 million), which results in lower commitment fees, while still retaining the flexibility to consider larger transactions by virtue of having structured a £100 million incremental accordion tranche for which no standby fees are paid."

For further information please contact:

BBGI Management Team +352 26 34 79-1

Duncan Ball

Frank Schramm

Maitland +44 (0) 20 7379 5151

Liz Morley

BBGI owns a global portfolio of 36 infrastructure assets. These projects are PPP / PFI assets and are supported by contracted, public sector-backed revenue streams, with inflation-protection characteristics.

Further information about BBGI is available on its website at www.bb-gi.com. 

Any reference to the Company or BBGI refers also to its subsidiaries (where applicable).