3i Infrastructure plc completes further investment in Wireless Infrastructure Group
3i Infrastructure plc (“3i Infrastructure”) has completed its £186m further investment in Wireless Infrastructure Group (“WIG”), increasing its ownership to 91% of WIG’s equity, with the balance held by management. The transaction was announced on 27 December 2017.
To fund the transaction, 3i Infrastructure drew on its Revolving Credit Facility (“RCF”). Following the acquisition, 3i Infrastructure held £68.0 million in cash, including £40.3 million to fund the interim dividend, and the undrawn balance of its RCF was £132.7 million. The RCF was £367.3 million drawn, including £51.3 million for letters of credit.