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International Public Partnerships makes further investment into Northern Diabolo Rail Link
StockMarketWire.com
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Infrastructure investment company International Public Partnerships said it had made an additional investment of €10 million and a contingent commitment of a further €14 million to Northern Diabolo Rail Link.
Diabolo, a rail infrastructure investment, integrated Brussels airport with Belgium's national rail network.
The additional €10 million had been invested by the company to support the project's liquidity position, ensuring its debt covenants would continue to be met, the company said.
Without remedial action by the company, the continued lower than projected passenger numbers would be anticipated to result in a liquidity shortfall and a breach of certain formula-based debt covenants in early 2021, it added.
'The company has been aware of this possibility for several months and has been proactively engaged in discussions with the project's lenders and the Belgian state railway since the onset of Covid-19,' it added.
Story provided by StockMarketWire.com
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