Norton Rose Fulbright advises BBGI on £230 million holdco refinancing

United Kingdom Press release - Business June 2021

Global law firm Norton Rose Fulbright has advised BBGI Global Infrastructure S.A. (LSE ticker: BBGI), the global infrastructure investment company (‘BBGI’), on its new committed £230 million multicurrency holdco revolving credit facility by ING Bank N.V., London Branch (ING), KfW-IPEX Bank GmbH (KfW), DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main (DZ Bank) and SMBC Bank EU AG (SMBC) as Arrangers; ING, KfW, DZ Bank and SMBC as Original Lenders; ING as Agent and Security Agent; ING, KfW, DZ Bank and SMBC as Issuing Banks and ING as Original Hedging Counterparty. 

The facility will replace the current £180 million facility with ING, KfW and DZ Bank, which commenced in January 2018 and would have matured in January 2022.

Under the new facility, BBGI will have increased flexibility to consider larger transactions by virtue of having structured a further uncommitted £70 million incremental accordion tranche. The multi-currency facility will be used primarily to fund acquisitions and provide letters of credit for investment obligations, and the intention will be to repay the facility from time to time through equity fundraisings.

The team was led by London banking partner Tomas Gärdfors and counsel Ann Vesely. Tomas and Ann were assisted by associate Lauren Birt as well as Mason Hayes & Curran LLP as to Irish law, McCarthy Tetrault as to Canadian law and Stibbe Avocats as to Luxembourg law.

Herbert Smith Freehills advised the lenders.

For further information please contact:

Louise Nelson, Head of PR – Europe, Middle East and Asia

Tel: +44 20 7444 5086; Cell: +44 79 0968 4893