LONDON (ShareCast) - (Sharecast News) - Infrastructure investor HICL Infrastructure said on Friday that it had successfully activated a £330.0m accordion within its revolving credit facility, increasing its overall short-term credit facilities to £730.0m.
HICL stated the accordion was a one-year facility, expiring on 28 July 2023, and said the increased overall funding capacity will be used to support its immediate pipeline of acquisition opportunities.

The FTSE 250-listed outfit added that the accordion was priced on the same terms as its existing RCF and was a sustainability-linked loan, incorporating defined sustainability targets where HICL incurs a premium or reduction to the interest charged on the drawings based on performance against environmental, social and governance KPIs.

As a result, the margin on the accordion will vary between 162 and 168 basis points over the sterling overnight index average.

Chairman Mike Bane said: "HICL has a strong and highly attractive pipeline of high-quality core infrastructure opportunities sourced by InfraRed, our investment manager. This accordion provides important additional liquidity for the Company to progress its acquisition strategy."



Reporting by Iain Gilbert at Sharecast.com

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