3i Infrastructure PLC 3i Infrastructure completes refinancing of ESVAGT (0701A)
December 21 2017 - 5:42AM
UK Regulatory
TIDM3IN
RNS Number : 0701A
3i Infrastructure PLC
21 December 2017
3i Infrastructure plc completes refinancing of ESVAGT
21 December 2017
3i Infrastructure plc ("3i Infrastructure") is pleased to
announce that it has successfully completed a EUR 376 million
refinancing of ESVAGT.
The refinancing comprises bank and institutional tranches with a
spread of maturities of up to 10 years, as well as associated capex
and revolving credit facilities. In conjunction with the
refinancing, 3i Infrastructure and its ESVAGT co-shareholder, AMP
Capital, have also each invested DKK 175m further equity (c. GBP
21m equivalent) into the business.
This new capital structure replaces the debt taken on at
acquisition. Importantly, it also provides funding for further
growth in ESVAGT's offshore wind service business.
Phil White, Managing Partner and Head of Infrastructure at 3i
Investments plc said, "This refinancing is an important strategic
milestone for ESVAGT. It allows ESVAGT to continue to expand its
offshore wind service business, increases ESVAGT's financial
flexibility and secures a competitive long-term cost of debt, with
reduced future refinancing risk."
-Ends-
For further information, contact:
Thomas Fodor Tel: +44 7738 345 988
Investor enquiries Email: thomas.fodor@3i.com
Tel: +44 20 7975 3021
Kathryn van der Kroft Email: kathryn.vanderkroft@3i.com
Media enquiries
Notes to editors:
About 3i Infrastructure plc
3i Infrastructure plc is a Jersey-incorporated, closed-ended
investment company, listed on the London Stock Exchange and
regulated by the Jersey Financial Services Commission. The Company
is a long-term investor in infrastructure businesses and assets.
The Company's market focus is on economic infrastructure and
greenfield projects in developed economies, principally in Europe,
investing in operating businesses and projects which generate
long-term yield and capital growth.
3i Investments plc, a wholly-owned subsidiary of 3i Group plc,
is authorised and regulated in the UK by the Financial Conduct
Authority and acts as Investment Adviser to 3i Infrastructure
plc.
About ESVAGT
ESVAGT is a leading provider of offshore safety and support at
sea primarily in and around the North Sea and the Barents Sea.
ESVAGT's fleet of vessels provides the daily safety and support
functions within the offshore wind and oil & gas industries.
The fleet comprises modern offshore support vessels with high
quality specifications designed for operations in harsh weather
conditions. ESVAGT is known and recognized as an attractive,
reliable and responsible partner providing our customers with
services including rescue, oil recovery, firefighting, towing,
supply, anchor handling and multi field service.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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