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BBGI Global Infrastructure secures £230m credit facility
StockMarketWire.com
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Infrastructure investment company BBGI Global Infrastructure said it had secured a new five-year credit facility of £230 million to replace a current £180 million facility.
The tenor of the new facility would be five years, commencing in May 2021, and the borrowing margin was 165 basis points over the relevant reference rate.
Under the new facility, BBGI would have increased flexibility to consider larger transactions.
The existing £180 million credit facility was set to mature in January 2022.
'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,' the company said.
Story provided by StockMarketWire.com
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