HICL secures £400m sustainability-linked facility

1 April 2022

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 secures £400m sustainability-linked 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 £400m multi-currency facility.

The facility's consortium of lenders comprises Barclays, Canadian Imperial Bank of Commerce ("CIBC"), ING, Lloyds, National Australia Bank, Royal Bank of Canada, Royal Bank of Scotland International and Sumitomo Mitsui Banking Corporation. Barclays, CIBC and Royal Bank of Canada have joined the banking group. ING served as the Sustainability Coordinator.

The RCF remains on the same terms as previously. It 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 KPIs. Performance 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.

The new expiry date is 30 June 2024.

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Enquiries

InfraRed Capital Partners Limited +44 (0) 20 7484 1800 / [email protected]

Harry Seekings

Edward Hunt

Helen Price

Kirsty MacCallum

Teneo +44 (0) 20 7420 3169 / [email protected]

Haya Herbert-Burns

Matthew Thomlinson

Jesse Mathews

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) 

The Investment Manager to HICL is InfraRed Capital Partners Limited ("InfraRed") which has successfully invested in infrastructure projects since 1997. InfraRed is a leading international investment manager, operating internationally from offices in London, New York, Seoul and Sydney and managing in excess of USD 12 billion of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is authorised and regulated by the Financial Conduct Authority.

The infrastructure investment team at InfraRed consists of over 100 investment professionals, all with an infrastructure investment background and a broad range of relevant skills, including private equity, structured finance, construction, renewable energy and facilities management.

InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment.

Further details can be found on InfraRed's website www.ircp.com.