International Public Partnerships Limited

Capital/Financing Update • May 12, 2015

National Storage Mechanism | Additional information

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RNS Number : 8938M

International Public Partnership Ld

12 May 2015

12 May 2015

INPP increases corporate debt facility to £300 million to support future pipeline

International Public Partnerships Limited (the Company, INPP) is pleased to announce that it has successfully revised the terms of its corporate debt facility, increasing the facility from £175 million to £300 million.

The existing facility, due to expire in December 2016 has been extended and will now become due for renewal in 2018. The increase to £300 million will support the strong pipeline of new projects over the next 12 months, particularly greenfield projects whereby bids are required to be fully underwritten at the time of submission.  As such the facility is intended to provide the Company with the flexibility to invest in appropriate opportunities rather than serving as long-term, structural leverage.

The overall cost of the facility has been substantially reduced through an improvement in the margins and a reduction in fees charged.  The margins on drawn amounts of the main facility will reduce from 225 bps over Libor to 175 bps over Libor.  In addition, the availability of the facility to provide letters of credit has been increased to £300 million, providing the Company with flexibility, particularly around investments made during the construction phase of projects. The commitment fees on the facility are 70 bps with an arrangement fee payable of £750,000. 

The facility will continue to be provided by the existing lenders, Royal Bank of Scotland and National Australia Bank.

For further information:

Erica Sibree                                                    +44 (0)20 7939 0558

Amber Fund Management Limited                                

Nick Westlake/Hugh Jonathan                            +44 (0)20 7260 1345/1263

Numis Securities       

Ed Berry/Mitch Barltrop                                     +44 (0)20 3727 1046 / 1039

FTI Consulting

Notes to Editors:

About International Public Partnerships (INPP):

International Public Partnerships (INPP) is a listed infrastructure investment company which invests in global public infrastructure projects developed under the public private partnerships (PPP), private finance initiative (PFI), regulated asset and other similar procurement methods.

Listed in 2006, INPP is a long-term investor in 112 social and transport infrastructure projects, including schools, hospitals, courts, police headquarters, transport and utility and transmission projects in the U.K., Europe, Australia and Canada. INPP seeks to provide its shareholders with both a long-term yield and capital growth through investment across both construction and operational phases of 20-40 year concessions.

Amber Infrastructure Group (Amber) is the Investment Advisor to INPP and consists of over 85 dedicated staff who manage, advise on and originate projects for INPP.

Visit the INPP website at www.internationalpublicpartnerships.com for more information.

This information is provided by RNS

The company news service from the London Stock Exchange

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