£150m Private Placement debt issue

HICL Infrastructure PLC
22 May 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".)

£150m Private Placement debt issue

Edward Hunt, Head of Core Income Funds at InfraRed said:

"The Private Placement saw strong demand and was more than four times oversubscribed, reflecting the underlying strength of HICL's investment proposition. The Notes reduce HICL's interest rate and refinancing risks, provide additional flexibility and diversify HICL's sources of long-term capital."

1 As at 19 May 2023 the balance on the RCF was £494m and excludes the proceeds from the notes, the upcoming receipt from the partial sale of Northwest Parkway and the expected investment in the Hornsea II OFTO. After completion of all these transactions, the Company is expected to have drawn c.£360m on its RCF.

-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

Elizabeth Evans 

 

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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