International Public Partnerships INPP - Financial close on first NZ Investments (1751C)
June 09 2023 - 2:00AM
UK Regulatory
TIDMINPP
RNS Number : 1751C
International Public Partnerships
09 June 2023
inpp reaches financial close on FIRST new zealand
investmentS
9 June 2023
International Public Partnerships Limited, the listed
infrastructure investment company ('INPP' or 'the Company'), has
successfully reached financial close on its acquisition of five New
Zealand availability revenue-based social infrastructure
investments.
The signing of binding agreements was previously announced on 9
December 2022. Financial close was achieved following regulatory
approval from New Zealand's Overseas Investment Office ('OIO').
The c.NZD 218 million (c.GBP108 million) portfolio provides the
Company with 100% ownership of five New Zealand investments. These
investments further increase the Company's contribution to the
provision of essential infrastructure whilst meeting the
environmental and social commitments required of it pursuant to its
categorisation as an Article 8 financial product under the EU
Sustainable Finance Disclosure Regulation ('SFDR').
Mike Gerrard, Chair of INPP, said: "These high-quality
infrastructure assets represent INPP's expansion into the mature
New Zealand market, diversifying our investment portfolio and
complementing the Company's Australian activity. The five essential
infrastructure investments are operational and generating stable,
long-term, inflation-linked revenues from robust PPP
contracts."
The investment has been funded using the recently extended
revolving credit facility. Following the investment, the Company's
GBP350 million revolving credit facility will be c.GBP125 million
utilised (including c.GBP17 million already committed via letters
of credit for near-term pipeline investments), leaving more than
enough liquidity to meet its investment commitments which total
c.GBP130m million across the offshore electricity transmission,
transport, digital and social infrastructure sectors.
ENDS.
For further information:
Erica Sibree +44 (0) 7557 676 499
Amber Fund Management Limited
Hugh Jonathan +44 (0)20 7260 1263
Numis Securities
+44 (0) 7703 330 199 / (0)
Ed Berry/Mitch Barltrop 7807 296 032
FTI Consulting
About International Public Partnerships:
INPP is a listed infrastructure investment company that invests
in global public infrastructure projects and businesses, which
meets societal and environmental needs, both now, and into the
future.
INPP is a responsible, long-term investor in over 140
infrastructure projects and businesses. The portfolio consists of
utility and transmission, transport, education, health, justice and
digital infrastructure projects and businesses, in the UK, Europe,
Australia, New Zealand and North America. INPP seeks to provide its
shareholders with both a long-term yield and capital growth.
Amber Infrastructure Group ('Amber') is the Investment Adviser
to INPP and consists of approximately 180 staff who are responsible
for the management of, advice on and origination of infrastructure
investments.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PFUSSFFWAEDSEIM
(END) Dow Jones Newswires
June 09, 2023 02:00 ET (06:00 GMT)
International Public Par... (LSE:INPP)
Historical Stock Chart
From Jun 2024 to Jul 2024
International Public Par... (LSE:INPP)
Historical Stock Chart
From Jul 2023 to Jul 2024