The Board of Directors of International Public Partnerships Limited (INPP) has announced that the company proposes to raise approximately £75 million (US$98.7 million) through the issue of ordinary shares of 0.01p in the capital of the company by way of issuance under the INPP's placing programme. 

The net proceeds of the issue will be used to reduce the company's obligations under its revolving credit facility following further investment into the Thames Tideway project and to meet the investment commitments falling due following financial close of the recently announced Building Schools for the Future acquisitions from Balfour Beatty and Carillion.

The aggregate of these amounts to approximately £96.3 million and are additional to the pre-existing approximately £140.5 million of binding further investment commitments entered into by the INPP which are backed by letters of credit issued under the company's revolving credit facility.

The company's total further binding investment commitments crystallising during 2016 are expected to be around £35.2m, with £103.5m of additional investment commitment crystallising in the period to the end of March 2018.

In addition, the company's Investment Adviser, Amber Infrastructure, continues to work on a number of further investment opportunities that offer promise to the company but are at an earlier stage.  It is the view of the company that reducing the level of the drawn and committed balance of the company's revolving debt facility so that such amounts are available to be re-drawn in the future will materially assist the realization of some of these opportunities.