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International Public Partnerships Ltd on Friday said it has amended the terms of its corporate debt facility to support its investment pipeline. The company has agreed to increase the size of its existing CDF to £350 million from £250 million. Further, it has retained a flexible ’accordion’ component which would, subject to lender approval, allow for a further increase in the size of the facility to £400 million. The maturity date of the CDF has also been amended from March 2024 to June 2025. The key pricing terms of the CDF remain unchanged, as does the banking group providing the loan. This includes National Australia Bank Ltd, Royal Bank of Scotland PLC, Sumitomo Mitsui Banking Corp and Barclays PLC. The funding available under the CDF will be used to finance the INPP’s investment pipeline, including the Moray East OFTO and its portfolio of five operational assets in New Zealand. Shares in INPP were down 0.3% to 143.80 pence each in London early Friday Copyright 2023 Alliance News Ltd. All Rights Reserved.
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