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HICL increases revolving credit to £400m

02 May 2017 07:42

HICL Infrastructure Company Limited has negotiated an increase in the size of its revolving credit facility from £300m to £400m.

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

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

HICL also announced that it had reached agreement to acquire a 36.6% equity interest in Affinity Water.

HICL said it was part of a consortium, alongside DIF Infrastructure and Allianz Capital Partners on behalf of Allianz Group, which had agreed to acquire 100% of the equity interest in Affinity Water Acquisitions (Investments) Limited from Morgan Stanley Infrastructure and Infracapital.

It said the investment was consistent with its strategy of investing in assets that were positioned at the lower end of the risk spectrum in three target market segments: PPPs; regulated assets; and demand-based assets.

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