JLIF to raise capital to fund acquisition of 11 PFI projects from Investors in the Community LP
The board of John Laing Infrastructure Fund (JLIF), the FTSE 250 international PPP infrastructure investment company, has announced that it intends to raise capital through a sale of ordinary shares in the coming months.
JLIF announced on 23 August 2013, that it had completed on the £123 million portfolio acquisition of 11 operational and yielding assets from Investors in the Community LP, the largest since the fund's launch in 2010, and has entered in to an agreement to acquire an additional 5% in LUL Connect (CityLink).
JLIF has approximately £123 million drawn on its existing bank facility and is seeking to refinance this by the proposed issue of shares.
Following the acquisition, the total number of projects in the JLIF portfolio increases to 49, with an approximate aggregate valuation of £697.8 million, according to the company.
JLIF is confident that it will continue to acquire projects from John Laing given it has the right of first offer to a significant pipeline of infrastructure projects.
JLIF will publish a prospectus in relation to the Issue. Further details on the quantum of the offering will be published in due course, however, it is expected that a prospectus will be published in September 2013 with the new Ordinary Shares being issued and admitted to trading in October 2013.
Country news
-
-
August 29, 2013
HICL acquires further interests in two existing UK operational projects for 10.2 million
HICL Infrastructure, the listed infrastructure investment company, has announced the acquisition of: Read more -
August 29, 2013
JLIF raises stake in London's Connect Project
John Laing Infrastructure Fund (JLIF), the listed infrastructure investment company, has announced today the acquisition of an additional 5% stake in in LUL Connect (CityLink). Read more -
September 02, 2013
INPP announces appointment of new Board member
International Public Partnerships Limited (INPP) announced on August 29 that John Stares has been appointed to the Board of Directors of the Company as a non-executive director with effect from 28 August 2013. Read more -
September 03, 2013
Financial Close achieved for Birmingham dental hospital PFI
Contracts have been signed on the first integrated, stand-alone dental hospital and dental school to be built in the UK for almost 40 years and work will start on site in the next days. Read more -
September 04, 2013
Sir Robert McAlpine closes financing for Glasgow Campus
A consortium led by Sir Robert McAlpine has completed financing for the City of Glasgow College New Campus NPD (Non-Profit Distributing) project in Glasgow. Read more
