REG - BBGI Global Infrast. - £150 million Revolving Credit Facility

BBGI Global Infrastructure SAAnnouncement

05/11/2024 07:00

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RNS Number : 8916K  BBGI Global Infrastructure S.A.  05 November 2024

5 November 2024

BBGI Global Infrastructure S.A.

("BBGI" or the "Company")

£150 million Revolving Credit Facility

BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global infrastructure
investment company, is pleased to announce that the Group has secured an
amendment and extension to its multi-currency Revolving Credit Facility
("RCF") with three existing lenders (ING, DZ, KfW) and Barclays as the new
fourth lender, replacing SMBC. Under the new agreement, the commitment size
has been reduced from £230 million to £150 million.

 

The final maturity date has been extended by two years to May 2028, with
options for two further one-year extensions post this date. The margin on the
amended and restated RCF is 170 bps over the relevant reference rate. The
revised RCF also includes a provision for a further uncommitted £100 million
incremental accordion tranche, for which no commitment fees will be paid.

 

 

Duncan Ball, CEO of BBGI, said:

"The revised RCF will reduce commitment fees and is reflective of BBGI's
proactive financial management. Our financial liquidity remains strong with a
net cash position of £20.6 million as of 30 June 2024 and a strong dividend
cover of 1.47x, providing us substantial headroom to consider any future
investment opportunities."

 

 

FOR FURTHER INFORMATION, PLEASE CONTACT:

 BBGI                                            +352 263 479-1
 Duncan Ball, CEO
 Michael Denny, CFOO
 Dilip Kejriwal, Director of Investor Relations

 H/Advisors Maitland (Communications advisor)     BBGI-maitland@h-advisors.global
 James Benjamin                                  +44(0) 7747 113 930
 Rachel Cohen                                    +44(0) 20 7379 5151

 

NOTES

BBGI Global Infrastructure S.A. (BBGI) is a responsible infrastructure
investment company and a constituent of the FTSE 250 that invests in and
actively manages for the long-term a globally diversified, low-risk portfolio
of essential social infrastructure investments.

 

BBGI is committed to delivering stable and predictable cash flows with
progressive long-term dividend growth and attractive, sustainable, returns for
shareholders. BBGI has a proactive approach to preserving and enhancing the
value of its investments, and to delivering well maintained social
infrastructure for communities and end users, whilst serving society by
supporting local communities.

 

All of BBGI's investments are supported by secure public sector-backed
contracted revenues, with high quality inflation linked characteristics.
BBGI's investment portfolio is 100% operational with all its investments
located across highly rated investment grade countries with stable, well
developed operating environments.

 

BBGI's in-house management team is incentivised by shareholder returns and
consistently maintains low comparative ongoing charges.

 

Further information about BBGI is available on its website at www.bb-gi.com*.

 

The Company's LEI: 529900CV0RWCOP5YHK95

 

Any reference to the Company or BBGI refers also to its subsidiaries (where
applicable).

 

* Neither the Company's website nor the content of any website accessible from
hyperlinks on its website (or any other website) is (or is deemed to be)
incorporated into, or forms (or is deemed to form) part of this announcement.

 

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