Funding & debt facility

The Company has a £400 million revolving credit facility (“RCF”) in order to maintain a good level of liquidity for further investment whilst minimising returns dilution from holding excessive cash balances.

This is a three-year facility, which was refinanced in November 2021 at a reduced cost with two one-year extension options.

The £200 million accordion feature allows the Company to increase the size of the RCF for any period up to the maturity date.

The new facility is a sustainability-linked RCF; it includes stretching targets across Environmental, Social and Governance themes aligned with the Company’s purpose. Performance against these targets will adjust the margin for the subsequent year.

The details of the sustainability-linked RCF are as follows:

Borrower: 3i Infrastructure plc

Committed: £400 million

Maturity: November 2024

Type: Multi-currency (£, €, US$) revolving credit facility secured by a floating charge over the bank accounts of the Company

Margin: 1.50% over SONIA

Financial covenants: loan to value covenant

Arranged by:

Barclays Bank plc
Industrial and Commercial Bank of China Limited, London Branch
Lloyds Bank plc
Natwest Markets plc
National Australia Bank Limited
Royal Bank of Canada
Skandinaviska Enskilda Banken AB
Sumitomo Mitsui Banking Corporation

Facility Agent: Lloyds Bank plc

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