John Laing Environmental Raises $80 Million for Clean Power Plan

Oct. 13 (Bloomberg) — John Laing Environmental Assets
Group Ltd.
, a U.K.-based infrastructure investor, obtained a 50
million-pound ($80 million) loan from HSBC Holdings Plc and NIBC
Bank NV
.

The investor will use the so-called revolving credit
facility to buy projects that include solar and wind power
plants as well as waste and water processing facilities, it said
today in an e-mailed statement. It will also be used for working
capital requirements. The debt will be repaid through cash from
its assets and future fund raisings, it said.

“The securing of this facility is in line with our
intentions set out at the time of the initial public offering,”
Richard Morse, chairman of John Laing Environmental, said in the
statement. “It’s a useful tool to allow the fund to act swiftly
to make bids for suitable assets in the active secondary
environmental infrastructure market. It will support the fund’s
growth over the next three years.”

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Ana Monteiro

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