TIDMBBGI

RNS Number : 8426I

BBGI Global Infrastructure S.A.

18 December 2020

18 December 2020

BBGI Global Infrastructure S.A.

("BBGI" or the "Company")

Completion of acquisition of interest in Signature on the Saint-Lawrence Group

Further to its announcement of 17 November 2020, BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global infrastructure investment company, has now completed its acquisition of a 25% equity interest in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, Quebec, Canada (the "Acquisition"). Completion of the Acquisition follows the Government of Canada's consent and the satisfaction of certain conditions precedent.

The Government of Canada is the owner of the Samuel De Champlain Bridge Corridor. Through a public-private partnership between the Government of Canada and Signature on the Saint-Lawrence, the project originally consisted of the design, construction, financing, operation, maintenance and rehabilitation of a new bridge spanning the St. Lawrence River between Montreal and Brossard, Quebec. The bridge opened to traffic in summer 2019 and the concession runs until 2049. The asset is classified as availability-based under the investment policy of the Company. Availability payments are received from the Government of Canada, which is rated AAA by both Moody's and S&P credit rating agencies.

The award-winning bridge serves not only as a link between Montreal and the south shore communities, but also as Eastern Canada's gateway to US trade corridors, improving travel efficiency and safety, whilst creating local jobs. Locally, more than 11 million public-transit users, pedestrians and cyclists use the corridor to cross the St. Lawrence River each year.

The consideration for the Acquisition has been funded by BBGI from the proceeds of its recent equity fundraising. As announced by the Company on 20 November 2020, the placing was oversubscribed and raised gross proceeds of GBP55 million, which will also be used to pay down other outstanding debt and thereby provide the Company with additional financial flexibility to pursue suitable new primary and secondary investment opportunities as and when they become available.

Following this Acquisition, BBGI now owns a globally diversified portfolio of 50 infrastructure investments in the transport, healthcare, education, justice and other services sectors which are geographically located in Australia, Canada, Continental Europe, the UK and the US. The Company seeks to limit and reduce investment risk where possible, with the current portfolio benefitting from 100 per cent availability-based assets of which more than 99% are operational. The Company also maintains a diversified supply chain in regards to facilities management and operational and maintenance ("O&M") contractors.

Commenting, Co-CEOs Duncan Ball and Frank Schramm said:

"We are delighted to complete this high-quality investment into Signature on the Saint-Lawrence Group. Our strategy is to remain disciplined and selective in our approach to acquisition opportunities by only investing in availability-based assets and not in higher risk infrastructure asset classes.

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
 BBGI Management Team             +352 263 479-1 
 Duncan Ball 
                                 ----------------------------- 
 Frank Schramm 
                                 ----------------------------- 
 
 Maitland/AMO (Communications 
  adviser)                        +44(0) 20 7379 5151 
                                 ----------------------------- 
 James Benjamin / Jason Ochere    BBGI-maitland@maitland.co.uk 
  / Rhys Jones 
                                 ----------------------------- 
 

NOTES

BBGI Global Infrastructure (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 availability-based and supported by secure public sector-backed contracted revenues, with inflation-protection characteristics, that is paid so long as the assets are available for use.

BBGI's investment portfolio is over 99% 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 to shareholders.

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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December 18, 2020 02:00 ET (07:00 GMT)