Completion of Acquisition

1 July 2016

John Laing Infrastructure Fund Limited ("JLIF")

Completion of Acquisition

JLIF, the FTSE 250 listed infrastructure investment company, is pleased to announce that it has completed the acquisition of a 100% interest in Project Service LLC, the provider of 23 motorway service plazas in the State of Connecticut (USA), between New York and Boston.

The agreement was originally announced on 19 May 2016 and the interest was acquired from Carlyle Infrastructure Service Plazas, L.P. (an affiliate of The Carlyle Group), Doctor's Associates Inc. (the parent company of Subway Restaurants) and Subcon, Inc. (a major Subway franchisee and developer).

JLIF financed the US Dollar consideration of the acquisition with a drawdown under its revolving credit facility of £76.6 million. In mid-June 2016, with the UK referendum on EU membership pending, an expected completion date of the end of June and the consideration fixed in US Dollars, JLIF sought to hedge the risk of a 'leave vote' and acquired just over half the US Dollar consideration. This meant that any movement between Sterling and US Dollar was hedged against the remaining half of the consideration.

For further information, please contact:

JLCM 020 7901 3326

Andrew Charlesworth

Finsbury 020 7251 3801

Faeth Birch

Philip Walters 

JLIF is one of Europe's largest listed infrastructure funds, trading on the London Stock Exchange. As an equity stakeholder, JLIF partners with public sector counterparties across the world to deliver key local and national infrastructure projects. In return these provide government-backed, inflation-linked revenue streams to our business. JLIF's continued success is built on a collaborative approach, centred on long term relationships with its clients such that their changing infrastructure needs can be met in a timely and cost effective way.