TIDMBBGI

RNS Number : 3141A

BBGI Global Infrastructure S.A.

01 June 2021

1 June 2021

BBGI Global Infrastructure S.A.

(" BBGI " or the " Company ")

New GBP230 million Revolving Credit Facility

BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global infrastructure investment company, i s pleased to announce that the Group has secured a new committed multi-currency Revolving Credit Facility ("RCF") of GBP230 million from ING Bank ("ING"), DZ Bank ("DZ"), KfW IPEX-Bank ("KfW") and SMBC Bank ("SMBC"). The RCF will replace the current GBP180 million facility with ING, DZ, and KfW which commenced in January 2018 and matures in January 2022.

The tenor of the new RCF will be five years, commencing in May 2021, and the borrowing margin is 165 bps over the relevant reference rate. Under the new RCF, BBGI will have increased flexibility to consider larger transactions by virtue of having structured a further uncommitted GBP70 million incremental accordion tranche, for which no commitment fees will be paid.

The multi-currency RCF will be used primarily to fund acquisitions and provide letters of credit for investment obligations, and the intention will be to repay the facility from time to time through equity fundraisings.

Frank Schramm, Co-CEO of BBGI, commented:

"The new Revolving Credit Facility helps to ensure BBGI has the ability to complete large portfolio transactions or acquisitions from multiple vendors in short order as and when they become available. We continue to be excited about the growth opportunities available to BBGI over the coming years and this new RCF will support the continued development of the business."

Duncan Ball, Co-CEO of BBGI, said:

"We are pleased to increase the tenor of the new RCF from four years to five years and expand the lending group, underlining the strength of support for the Company and our future growth strategy as well as the robust fundamentals of our focus on low-risk availability-based infrastructure investments .

We have also contributed to lower costs by virtue of having structured an additional GBP70 million incremental accordion tranche for which no commitment fees are payable. Both the multi-currency facility and the accordion facility allow BBGI to borrow in the currency of the underlying assets or in sterling."

FOR FURTHER INFORMATION, PLEASE CONTACT:

 
 BBGI Management Team            +352 263 479-1 
 Duncan Ball 
                                ----------------------------- 
 Frank Schramm 
                                ----------------------------- 
 
 Maitland/AMO (Communications 
  adviser)                       +44(0) 7747 113 930 
                                ----------------------------- 
 James Benjamin                  BBGI-maitland@maitland.co.uk 
                                ----------------------------- 
 

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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