BBGI Global Infrastructure buying 25% stake in Signature on the Saint-Lawrence Group

BBGI Global Infrastructure buying 25% stake in Signature on the Saint-Lawrence Group 1

LONDON: BBGI Global Infrastructure S.A., the global infrastructure investment company, has entered into an agreement to acquire a 25% equity interest in Signature on the Saint-Lawrence Group, the operator of the Samuel De Champlain Bridge Corridor in Montreal, Quebec, Canada.

The Government of Canada is the owner of the bridge.

The project originally consisted of the design, construction, financing, operation, maintenance and rehabilitation of a new bridge spanning the St. Lawrence River between Montreal and Brossard, Quebec.

The bridge opened to traffic in summer 2019 and the concession runs until 2049. The asset is classified as availability-based under the investment policy of the Company. Availability payments are received from the Government of Canada, which is rated AAA by both Moody’s and S&P credit rating agencies.

The award-winning bridge serves not only as a link between Montreal and the south shore communities, but also as Eastern Canada’s gateway to US trade corridors, improving travel efficiency and safety, whilst creating local jobs.

Duncan Ball, Co-CEO of BBGI, commented: “We are delighted to make this investment into Signature on the Saint-Lawrence, the operator of a high-profile infrastructure asset which is an essential component of Canada’s international trade corridor. Locally, more than 11 million public-transit users, pedestrians and cyclists use the corridor to cross the St. Lawrence River each year.”

Frank Schramm, Co-CEO of BBGI, said: “Our 50th infrastructure asset investment is such a signature project. Not only is the bridge built to the highest technical and functional standards, but it is already recognised for its aesthetic achievement. The bridge has been built to provide a 125-year design life and received the Envision Platinum award from the Institute of Sustainable Infrastructure. It is only the second bridge in North America to earn the Envision Award. The project will improve travel efficiency and safety and has created jobs for local workers.”

The Directors of BBGI also announced a proposed placing of up to £55 million through an issue of ordinary shares of no par value in the Company. The new Ordinary Shares to be issued pursuant to the Placing are to be referred to in this announcement as “Placing Shares”.

The Placing will be non pre-emptive and will be launched immediately following this announcement, when Jefferies International Limited and Winterflood Securities Limited will commence a book-building process to determine the level of demand from potential investors for participation in the Placing.

The price per Placing Share is expected to be between 164 pence and 172 pence. To bid in the book-build, investors should communicate their bid (or bids) by telephone to their usual sales contact at Jefferies and/or Winterflood.

BBGI Global Infrastructure (BBGI) is a responsible infrastructure investment company and a constituent of the FTSE 250 that invests in and actively manages for the long-term a globally diversified, low-risk portfolio of essential social infrastructure investments.

BBGI is committed to delivering stable and predictable cash flows with progressive long-term dividend growth and attractive, sustainable, returns for shareholders. BBGI has a proactive approach to preserving and enhancing the value of its investments, and to delivering well maintained social infrastructure for communities and end users, whilst serving society by supporting local communities.

All of BBGI’s investments are availability-based and supported by secure public sector-backed contracted revenues, with inflation-protection characteristics, that is paid so long as the assets are available for use.

BBGI’s investment portfolio is over 99% operational with all its investments located across highly rated investment grade countries with stable, well developed operating environments.

BBGI’s in-house management team is incentivised by shareholder returns and consistently maintains low comparative ongoing charges to shareholders.

www.bb-gi.com

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