INPP acquires additional interestS in BSF PROJECTS AND PFI SCHEMES

1 December 2021

International Public Partnerships Limited, the FTSE 250 listed infrastructure investment company ('INPP' or the 'Company'), has acquired additional interests in the Bradford and Lewisham Building Schools for the Future ('BSF') projects (the 'BSF Projects') and interests in three healthcare Private Finance Initiative ('PFI') schemes ('Three Shires'). These interests have been acquired from Costain Pension Scheme Trustee Limited at a cost of c.£29.5 million. 

The BSF Projects collectively comprise 14 schools providing education facilities to over 17,000 pupils across the Bradford and Lewisham areas in the UK. The investment builds on the Company's existing portfolio of BSF projects, supporting the Company's commitment to providing a high-quality teaching environment to pupils across the portfolio. The majority of the Lewisham and Bradford investments have been designed and built in line with BREEAM, a leading sustainability assessment method for masterplanning projects, infrastructure and buildings, each scoring 'Very Good' or 'Excellent'.

The Three Shires schemes comprise the design, build, funding and partial operation of four small community healthcare facilities under the Three Shires banner located in East Lincolnshire, Leicester and Derbyshire. The facilities provide a range of community health services including dentistry, diagnostics and mental health rehabilitation.

The Company's investment will increase its share in the BSF Projects by between c.7% and 36% and provide a 50% share in each of the Three Shires schemes. Upon completion the Company will hold a 90% interest in three of the Lewisham BSF schemes and 81% in the fourth, and c.22% and c.31% interests in phase 1 and phase 2 of the Bradford BSF schemes respectively.

The investment has been funded through the Company's £250 million revolving credit facility, which following the investment will be £137 million drawn.

Mike Gerrard, Chair of International Public Partnerships, said: "We are very pleased to make this further investment into the Bradford and Lewisham BSF projects and the Three Shires scheme, building on the Company's existing portfolio of UK schools and healthcare facilities that support the communities in these regions."

ENDS.

For further information:

Erica Sibree/Amy Edwards                                           +44 (0)20 7939 0558/0587

Amber Fund Management Limited                                                         

Hugh Jonathan                                                                  +44 (0)20 7260 1263

Numis Securities             

Ed Berry/Mitch Barltrop                                                +44 (0) 20 3727 1046/1039
FTI Consulting

About International Public Partnerships ('INPP'):

INPP is a listed infrastructure investment company that invests in global public infrastructure projects and businesses, which meets societal and environmental needs, both now, and into the future.

INPP is a responsible, long-term investor in over 130 infrastructure projects and businesses. The portfolio consists of utility and transmission, transport, education, health, justice and digital infrastructure projects and businesses, in the UK, Europe, Australia and North America. INPP seeks to provide its shareholders with both a long-term yield and capital growth.

Amber Infrastructure Group ('Amber') is the Investment Adviser to INPP and consists of over 150 staff who are responsible for the management of, advice on and origination of infrastructure investments.