BBGI Global Infrastructure SA - Senningerberg, Luxembourg-based infrastructure investment firm - Extends its multi-currency revolving credit facility by two years to May 2028, with options for further one-year extensions, and reduces the commitment size of the facility to £150 million from £230 million. It also includes a further uncommitted £100 million incremental accordion tranche, for which no commitment fees will be paid. Barclays PLC replaces SMBC Bank International PLC as the fourth lender on the facility, joining ING Bank NV, DZ Bank AG and KfQ IPEX-Bank GmbH.
Chief Executive Officer Duncan Ball says: ‘The revised [revolving credit facility] will reduce commitment fees and is reflective of BBGI’s proactive financial management. Our financial liquidity remains strong with a net cash position of £20.6 million as of June 30, and a strong dividend cover of 1.5x, providing us substantial headroom to consider any future investment opportunities.’
Current stock price: 127.36 pence, up 0.1% in London on Tuesday morning
12-month change: down 5.1%
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