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Pin to quick picksHICL Infrastructure Regulatory News (HICL)

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HICL Infrastructure is an Investment Trust

To deliver a long-term, stable income to shareholders from a diversified portfolio of infrastructure investments positioned at the lower end of the risk spectrum.

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HICL Announces £650m Three-Year Facility

20 Mar 2023 10:35

RNS Number : 4304T
HICL Infrastructure PLC
20 March 2023
 

 

 

 

20 March 2023

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".)

HICL announces £650m three-year facility

The Board of HICL is pleased to announce that the Company has successfully renegotiated its revolving credit facility ("RCF") used to support the acquisition of new investments. The new RCF is a £650m multi-currency facility that runs to 30 June 2026, with options to extend for up to two additional years. The RCF remains on the same margin of 165bps over SONIA. 

The facility's consortium of lenders remains unchanged and comprises Barclays, CIBC, ING, Lloyds, National Australia Bank, Royal Bank of Canada, Royal Bank of Scotland International and Sumitomo Mitsui Banking Corporation.

The RCF is a Sustainability Linked Loan, incorporating defined sustainability targets where HICL incurs a premium or reduction to the interest charged on the RCF based on performance against Environmental, Social and Governance KPIsPerformance against these targets is measured annually, with the cost of the RCF adjusted for the following year. Overall, the margin on the RCF can vary between 162bps and 168bps over SONIA.

At 17 March 2023, the Company had net debt of £170m, comprising cash of £49m and drawings on the RCF of £219m.

 

-ends-

 

 

Enquiries 

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

Edward Hunt 

Helen Price 

Mohammed Zaheer 

 

Teneo +44 (0) 20 7420 3169 / HICL@teneo.com 

Haya Herbert-Burns 

Matthew Thomlinson 

 

Investec Bank plc +44(0) 20 7597 4952 

David Yovichic 

 

RBC Capital Markets +44 (0) 20 7653 4000 

Matthew Coakes 

 

Aztec Financial Services (UK) Limited +44(0) 203 818 0246 

Chris Copperwaite 

Sarah Felmingham 

 

HICL Infrastructure PLC 

HICL Infrastructure PLC ("HICL") 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 in core infrastructure, which are inherently positioned at the lower end of the risk spectrum. 

Further details can be found on the HICL website www.hicl.com. 

 

Investment Manager (InfraRed Capital Partners)  

InfraRed Capital Partners is an international infrastructure investment manager, with more than 180 professionals operating worldwide from offices in London, New York, Sydney and Seoul. Over the past 25 years, InfraRed has established itself as a highly successful developer and custodian of infrastructure assets that play a vital role in supporting communities. InfraRed manages US$14bn+ of equity capital1 for investors around the globe, in listed and private funds across both income and capital gain strategies. 

 

A long-term sustainability-led mindset is integral to how InfraRed operates as it aims to achieve lasting, positive impacts and deliver on its vision of Creating Better Futures. InfraRed has been a signatory of the Principles of Responsible Investment since 2011 and has achieved the highest possible PRI rating2 for its infrastructure business for seven consecutive assessments, having secured a 5 stars rating for the 2021 period. It is also a member of the Net Zero Asset Manager's Initiative and is a TCFD supporter. 

 

InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. InfraRed represents the infrastructure equity arm of SLC Management, which also incorporates BentallGreenOak, a global real estate investment management adviser, and Crescent Capital, a global alternative credit investment asset manager.  

 

www.ircp.com 

 

1 Data as at Q3 2022. Equity Capital is calculated using a 5-year average FX rate 2 Principles for Responsible Investment ("PRI") ratings are based on following a set of Principles, including incorporating ESG issues into investment analysis, decision-making processes and ownership policies. More information is available at https://www.unpri.org/about-the-pri 

 

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MSCEAEDEADLDEFA
Date   Source Headline
19th Sep 20167:00 amRNSIssue of Equity
13th Sep 20168:30 amRNSAcquisition of a new investment
2nd Sep 20163:02 pmRNSScrip Share Reference Price
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25th Jul 20167:00 amRNSQuarterly Update Statement
22nd Jul 201610:18 amRNSDirector Declaration - Additional Directorship
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20th Jul 20167:00 amRNSResult of AGM
15th Jul 20164:30 pmRNSChange of Administrator
13th Jul 20165:00 pmRNSDirector/PDMR Shareholding
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4th Jul 20167:00 amRNSDirector Declaration
1st Jul 20165:00 pmRNSDirector Declaration
30th Jun 20165:00 pmRNSTotal Voting Rights
28th Jun 20168:49 amRNSHolding(s) in Company
21st Jun 20169:55 amRNSDirector/PDMR Shareholding
20th Jun 20164:30 pmRNSAdditional Listing
17th Jun 20167:00 amRNSAnnual General Meeting Circular
13th Jun 20168:06 amRNSAcquisition of an incremental investment
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18th May 20167:00 amRNSAnnouncement of Financial Results
12th May 20161:12 pmRNSFourth Quarterly Interim Dividend
19th Apr 20167:00 amRNSAcquisition of a new investment
5th Apr 20161:00 pmRNSDirector/PDMR Shareholding
5th Apr 20167:00 amRNSNotice of Annual Results
1st Apr 201612:00 pmRNSTotal Voting Rights
22nd Mar 20164:08 pmRNSIssue of Ordinary Shares
21st Mar 20164:57 pmRNSDirector Declaration
21st Mar 20167:00 amRNSDirector/PDMR Shareholding
18th Mar 20167:00 amRNSIssue of Equity
16th Mar 201610:15 amRNSAdditional Listing
3rd Mar 201612:49 pmRNSScrip Share Reference Price
25th Feb 20167:00 amRNSQuarterly Update Statement
17th Feb 20162:00 pmRNSDisclosure of Home Member State
16th Feb 20169:18 amRNSThird Quarterly Interim Dividend
5th Feb 20167:00 amRNSCapital Markets Seminar
3rd Feb 20167:00 amRNSConditional Acquisition of a new investment
22nd Jan 20167:00 amRNSAcquisition of an incremental investment for £4.1m
14th Jan 20167:00 amRNSAcquisition of an incremental investment
6th Jan 20164:03 pmRNSDirector/PDMR Shareholding
31st Dec 20158:59 amRNSTotal Voting Rights
18th Dec 20154:30 pmRNSAdditional Listing
9th Dec 20152:20 pmRNSIssue of Ordinary Shares
7th Dec 20157:00 amRNSIssue of Equity
3rd Dec 201511:05 amRNSScrip Share Reference Price
30th Nov 201512:00 pmRNSHolding(s) in Company

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