REG - International PPL - INPP - Financial close on first NZ Investments

International Public PartnershipsAnnouncement

09/06/2023 07:00

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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.£108 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 £350 million revolving
credit facility will be c.£125 million utilised (including c.£17 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.£130m 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

 Ed Berry/Mitch                                                           +44 (0) 7703 330 199 / (0) 7807 296 032
 Barltrop
 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.

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