HICL Infra sells five-asset portfolio for £204m

HICL Infrastructure said it had sold a portfolio of five assets to John Laing for £204m.

The portfolio is made up of HICL's entire equity interest in four UK public/private partnership projects; Queens Hospital in Romford, Oxford John Radcliffe Hospital, Priority Schools North East Batch and South Ayrshire Schools, in addition to half of its investment in the Hornsea II OFTO2.

Completion of all five disposals is expected before HICL's 31 March 2024 year-end. The transaction proceeds will reduce the drawings on the company's revolving credit facility to around £130m.

Reporting by Frank Prenesti for Sharecast.com