In QuotedData’s morning briefing for 18 September 2023:
- HICL Infrastructure (HICL) has announced that it has entered into an agreement to sell its investment in Bradford Schools PPPs for £37m. This sale represents an 8% premium to its valuation at 31 March 2023. The sale represents HICL’s entire stake in the entities, which are two projects relating for Bradford Schools, and the sale is expected to be completed in Q4 2023. The proceeds from the transaction will be used to reduce the outstanding balance on its revolving credit facility, where following the completion of the sale its drawings will amount to £330m.
We also have the termination of merger discussions between GCP infrastructure and GCP Asset backed Income