BBGI Global Infrastructure S.A. NPV (DI) (BBGI)

Sector:

Investment Firms

Index:

FTSE 250

172.40p
   
  • Change Today:
    -0.20p
  • 52 Week High: 180.80
  • 52 Week Low: 165.60
  • Currency: UK Pounds
  • Shares Issued: 712.13m
  • Volume: 429,254
  • Market Cap: £1,227.70m

BBGI secures new £230m revolving credit facility

By Josh White

Date: Tuesday 01 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Infrastructure investment company BBGI Global Infrastructure has secured a new committed multicurrency revolving credit facility of £230m, it announced on Tuesday, from ING Bank, DZ Bank, KfW IPEX-Bank and SMBC Bank.
The FTSE 250 company said the facility would replace the current £180m facility with ING, DZ, and KfW, which started in January 2018 and matures in January 2022.

It said the new facility would have a tenor of five years, starting in May, with a borrowing margin 165 basis points over the relevant reference rate.

Under the new revolving credit facility, BBGI said it would have increased flexibility to consider larger transactions by virtue of having structured a further uncommitted £70m incremental accordion tranche, for which no commitment fees would be paid.

The multi-currency facility would be used primarily to fund acquisitions and provide letters of credit for investment obligations, and the intention would be to repay the facility from time to time through equity fundraisings.

"The new revolving credit facility helps to ensure BBGI has the ability to complete large portfolio transactions or acquisitions from multiple vendors in short order as and when they become available," said co-chief executive officer Frank Schramm.

"We continue to be excited about the growth opportunities available to BBGI over the coming years and this new facility will support the continued development of the business."

Co-CEO Duncan Ball added that increasing the tenor of the new facility to five years from four, and expanding the lending group, underlined the "strength of support" for BBGI and its future growth strategy, as well as the "robust fundamentals" of its focus on low-risk, availability-based infrastructure investments.

"We have also contributed to lower costs by virtue of having structured an additional £70m incremental accordion tranche for which no commitment fees are payable.

"Both the multi-currency facility and the accordion facility allow BBGI to borrow in the currency of the underlying assets or in sterling."

At 0811 BST, shares in BBGI Global Infrastructure were up 0.57% at 176p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BBGI Market Data

Currency UK Pounds
Share Price 172.40p
Change Today -0.20p
% Change -0.12 %
52 Week High 180.80
52 Week Low 165.60
Volume 429,254
Shares Issued 712.13m
Market Cap £1,227.70m

BBGI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
44.31% above the market average44.31% above the market average44.31% above the market average44.31% above the market average44.31% above the market average
2.39% below the sector average2.39% below the sector average2.39% below the sector average2.39% below the sector average2.39% below the sector average
Price Trend
7.67% above the market average7.67% above the market average7.67% above the market average7.67% above the market average7.67% above the market average
3.52% below the sector average3.52% below the sector average3.52% below the sector average3.52% below the sector average3.52% below the sector average
Income
9.78% above the market average9.78% above the market average9.78% above the market average9.78% above the market average9.78% above the market average
45.13% above the sector average45.13% above the sector average45.13% above the sector average45.13% above the sector average45.13% above the sector average
Growth
60.84% below the market average60.84% below the market average60.84% below the market average60.84% below the market average60.84% below the market average
40.31% below the sector average40.31% below the sector average40.31% below the sector average40.31% below the sector average40.31% below the sector average

BBGI Dividends

  Latest Previous
  Interim 2nd Interim
Ex-Div 09-Sep-21 18-Feb-21
Paid 21-Oct-21 01-Apr-21
Amount 3.67p 3.59p

Trades for 21-Jan-2022

Time Volume / Share Price
16:51 864 @ 172.32p
16:35 76,309 @ 172.40p
16:29 52 @ 172.60p
16:29 1 @ 172.60p
16:29 54 @ 172.60p

BBGI Key Personnel

CFO Michael Denny
Chair Sarah Whitney

Top of Page