UK: The Infracapital infrastructure private equity investment arm of M&G has signed a £218m financing package for its GB Railfreight business, refinancing its existing facilities and renewing a capex facility to support future growth.
The deal announced on January 13 comprises a £143m refinancing with a 10-year private placement from PGIM and £75m of facilities from HSBC UK.
Infracapital acquired GBRf in September 2019 via its Infracapital Partners III fund.
‘This refinancing strengthens GBRf’s long term capital structure and reflects the continued strong support from high-quality lender for both the business and the UK rail freight sector’, said Infracapital director Ed Barrie. ‘It is also the outcome of our positive ongoing partnership alongside the GBRf management team, with whom we are working closely to ensure the business is well positioned for sustained success.’
Infracapital recently sold its stake in passenger train leasing entity Corelink Rail Infrastructure to Porterbrook.
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