TIDMINPP
RNS Number : 8412D
International Public Partnership Ld
29 October 2015
THE INFORMATION IN THIS ANNOUNCEMENT IS RESTRICTED AND IS NOT
FOR PUBLICATION, RELEASE OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN
OR INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN, NEW ZEALAND OR
THE REPUBLIC OF SOUTH AFRICA OR IN ANY MEMBER STATE OF THE EU OTHER
THAN THE UK AND IRELAND
29 October 2015
Learning Communities Victoria Consortium REACHES FINANCIAL CLOSE
ON Victorian New Schools PPP Project
International Public Partnerships Limited ('the Company' or
'INPP'), the listed infrastructure investment company, is pleased
to advise that the Learning Communities Victoria Consortium has
reached financial close on the New Schools Public Private
Partnership Project ("the Project") in the state of Victoria in
Australia.
The Company will fully own the Project and invest GBP16.5
million representing 100% of the Project's risk capital. The
Project is expected to deliver a predictable and high quality
cashflow to the Company backed by the credit of the State of
Victoria which is rated AAA by both S&P and Moody's. The
Company anticipates a return on its investment fully in line with
its experience on other comparable projects.
The Project has been commissioned by the Victorian Department of
Education and Training, and comprises the design, building,
financing and maintenance of 15 schools across 12 sites. The
contract with the Victorian Government is for a period of 25 years
from the expected date of construction completion.
The Learning Communities Victoria Consortium was led by Amber
Infrastructure and, in addition to INPP, other consortium members
include:
-- Watpac Construction: Design and Construction;
-- Spotless Facility Services: Facilities Manager. Spotless also
provides facilities management services to some of the Company's
existing Australian investments;
-- YMCA Learning Communities: Community Services and Activities; and
-- Centre for Education and Research in Environmental Strategies
(CERES): Environmental Sustainability Education Services and
Activities
This New Schools PPP Project builds on the Company's existing
educational infrastructure investments across Australia, the UK and
Canada and will broaden its Australian investment portfolio.
Construction is expected to commence in Q4 2015 with the
delivery of the first tranche of schools to be in time for the
commencement of the 2017 school year and the subsequent, second
tranche of schools to be delivered in time for commencement of the
2018 school year.
The investment will be funded by INPP through a mix of cash and
its revolving credit facility.
Commenting on the appointment, Chairman of International Public
Partnerships, Rupert Dorey said: "We are delighted to have made our
investment into the Victorian New Schools PPP Project. We look
forward to working with the Victorian Government and the consortium
to develop the high quality schools which are at the heart of the
project. For our investors this project demonstrates the Company's
ability to continue to source attractive long term infrastructure
investment opportunities on an international basis."
Further project details can be viewed on the State's Project
website:
http://www.education.vic.gov.au/about/programs/infrastructure/Pages/newschoolsproject.aspx.
For further information:
Erica Sibree +44 (0)20 7939 0558
Amber Fund Management Limited
Nick Westlake/Hugh Jonathan +44 (0)20 7260 1345/1263
Numis Securities
Ed Berry/Mitch Barltrop +44 (0) 20 3727 1046/1039
FTI Consulting
Notes to Editors:
About International Public Partnerships:
International Public Partnerships Limited (INPP) is a listed
infrastructure investment company which invests in global public
infrastructure projects developed under the public private
partnerships (PPP) and private finance initiative (PFI) procurement
methods.
Listed in 2006, INPP is a long-term investor in 119 social and
transport infrastructure projects, including schools, hospitals,
courts, police headquarters, transport and renewable energy
projects in the U.K., Europe, Australia and Canada. INPP seeks to
provide its shareholders with both a long-term government-backed
yield and capital growth through investment across both
construction and operational phases of typically 20-40 year
concessions.
Visit the INPP website at
www.internationalpublicpartnerships.com for more information.
About Amber Infrastructure Group:
Amber Infrastructure Group (Amber) is a leading international
infrastructure specialist, providing asset management and
investment advisory services in respect of over GBP5 billion of
assets in the UK, Europe, Australia and North America. Amber's core
business focuses on sourcing, developing, advising on, investing in
and managing infrastructure assets within the utilities, PPP,
transport, renewable energy and regeneration sectors.
Amber provides investment advisory services to International
Public Partnerships
Limited as well as private investment funds, specialising in
urban regeneration. Amber is headquartered in London with offices
in Munich, Sydney, Melbourne and San Francisco and employs over 80
people, making it one of the largest
international infrastructure specialists.
This announcement is for information purposes only. This
announcement is not a prospectus. This announcement does not
constitute or form part of, and should not be construed as, any
offer for sale or subscription of, or solicitation of any offer to
buy or subscribe for, any shares in INPP or securities in any other
entity, in any jurisdiction, including the United States, nor shall
it, or any part of it, or the fact of its distribution, form the
basis of, or be relied on in connection with, any contract or
investment decision whatsoever, in any jurisdiction. This
announcement does not constitute a recommendation regarding any
securities. No reliance may be placed for any purpose on the
information contained in this announcement or its accuracy or
completeness. Any investment decision must be made exclusively on
the basis of any prospectus published by the Company and any
supplement thereto in connection with the admission of ordinary
shares of the Company to the Official List of the UK Listing
Authority and to trading on the London Stock Exchange's main market
for listed securities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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