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HICL increases revolving credit to £300m

02 December 2016 09:30

HICL Infrastructure Company Limited has successfully increased the size of its revolving credit facility from £200m to £300m.

Terms of the enlarged facility remain the same, with a margin of 1.70% over Libor and expiry in May 2019.

The banks providing the facility have expanded with ING ?joining National Australia Bank, Lloyds Bank, Royal Bank of Scotland, Sumitomo Mitsui Banking Corporation and HSBC in the banking group.

The company has increased the size of this facility in light of the pipeline of new opportunities the Group is evaluating.

HICL also announced that it has reached an agreement to acquire a 33.3% equity interest in Northwest Parkway, a toll-road located in the Denver metropolitan area of Colorado, USA.

HICL is part of a consortium alongside DIF Infrastructure IV and Northleaf Capital Partners, which has agreed to acquire a 100% equity interest in the Project from Brisa, a Portuguese toll-road operator.

Completion is subject to a limited number of conditions and is expected in the first half of 2017. HICL's share of the consideration is approximately US$166 million, which will be paid at completion, funded by cash and drawing under the Group's enlarged revolving debt facility.

At 9:30am: (LON:HICL) HICL Infrastructure Co Ltd share price was +0.4p at 160p

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