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QuotedData’s morning briefing 21 December 2023 – HICL, RCOI

In QuotedData’s morning briefing 21 December 2023:

  • HICL Infrastructure is paying £20m for a 3.1% stake in the A63 Motorway concession in France. Completion is expected in early 2024, subject to customary third-party consents. The 40-year toll-road concession covers the design, upgrade, finance, operating and maintenance of a 104km section of the existing A63 between Salles and Saint-Geours-de-Maremne, in southwest France. HICL first invested in the A63 in 2017 and will now hold a 24% interest in the asset. Once recent trades have completed, HICL’s revolving credit facility is forecast to be about £135m drawn.
  • Riverstone Credit Income Opportunities (RCOI) has realised a 14.9% gross IRR, 10.8% net IRR, and 1.1x net return on money invested from its sustainability-linked first lien term loan in Clean Energy Fuels Corp. The fund committed $13.9m to Clean Energy last December. Clean Energy is a NASDAQ listed public company (ticker CLNE). It used the money to help fund its renewable natural gas growth strategy.

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