HICL Infrastructure Regulatory News (HICL)

11 Dec 2009 07:00



HSBC Infrastructure Company Limited

11 December 2009

Investment in the Helicopter Training Facility PFI project

HSBC Infrastructure Company Limited (the "Company"), the listed infrastructure investment company, announces today it has committed to a £2.1m investment in the Helicopter Training Facility PFI project to fund a project variation.

The project variation is for an upgrade of a Chinook simulator used for training by the Royal Netherlands Air Force which uses the facility in addition to the facility's main customer, the Royal Air Force. The funding for the variation is being provided by the shareholders of the project, for which the Company's investment is £2.1 million in loan notes yielding 12.75%.

Tony Roper, Director, HSBC Specialist Fund Management Limited, the Company's Investment Adviser, said: "I am pleased that the Company has been able to make a further attractive investment in this award winning project."

Ends

HSBC Infrastructure Company Limited

The Company is a long term investor in infrastructure projects which are predominantly in their operating phase and yielding steady returns. It owns a portfolio of 32 infrastructure projects most of which are operational. None of the investments in the portfolio is a demand-based income project (whose revenue is dependent on the amount of usage).

The Company is seeking further suitable investment opportunities in line with its strategy set out most recently in the Company's results announced on 12 November 2009. The Company announced on 12 November 2009 and confirmed on 27 November 2009 that it was seeking to raise up to £80 million by way of an issue of C Shares (the "Issue").

Further details of the Company can be found from its web site www.hicl.hsbc.com

Investment Adviser

The Investment Adviser to the Company is HSBC Specialist Fund Management Limited, whose infrastructure investment team has successfully invested in infrastructure projects since 1997 and which is part of HSBC Specialist Investments, the infrastructure and real estate investment arm of the HSBC Group. HSBC Specialist Fund Management Limited is authorised and regulated by the Financial Services Authority.

IMPORTANT NOTICES

This Announcement has been issued by and is the sole responsibility of the Company.

No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Collins Stewart Europe Limited ("CS"), Oriel Securities Limited ("Oriel") or by any of their respective affiliates or agents as to or in relation to, the accuracy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefore is expressly disclaimed.

CS, which is authorised and regulated by the Financial Services Authority, is acting for the Company in connection with the Issue and no-one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of CS nor for providing advice in relation to the Issue, the contents of this Announcement or any other matter referred to herein. 

Oriel, which is authorised and regulated by the Financial Services Authority, is acting for the Company in connection with the Issue and no-one else and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Oriel nor for providing advice in relation to the Issue, the contents of this Announcement or any other matter referred to herein.

Neither the C Shares in the Company referred to in this Announcement (the "C Shares") nor the new Ordinary Shares in the Company into which they will convert (the "New Ordinary Shares) have been, or will be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any State or other jurisdiction of the United States, and accordingly may not be offered, sold or transferred within the United States except pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act. No offering of the C Shares or the New Ordinary Shares is being made in the United States or to U.S. persons as defined in and in accordance with Regulation S under the Securities Act ("U.S. Persons"). The Company has not been and will not be registered under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act") and investors will not be entitled to the benefits of that Act. 

The distribution of this Announcement and the Placing in certain jurisdictions may be restricted by law. No action has been taken by the Company, CS or Oriel that would permit an offering of the C Shares or the New Ordinary Shares or possession or distribution of this Announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this Announcement comes are required by the Company, CS and Oriel to inform themselves about, and to observe, such restrictions. 

This Announcement is for information purposes only and does not constitute an invitation to subscribe for or otherwise acquire or dispose of securities in the Company in any jurisdiction. The information contained in this Announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this Announcement or its accuracy or completeness. This announcement does not constitute or form part of any offer to issue or sell, or any solicitation of any offer to subscribe or purchase, any investments nor shall it (or the fact of its distribution) form the basis of, or be relied on in connection with, any contract therefore.

Certain statements in this Announcement are forward-looking statements which are based on the Company's expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The information contained in this Announcement is subject to change without notice and neither the Company nor CS nor Oriel assume any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein.