HSBC Infra increases stake in Dutch HSR

The listed infrastructure investor has acquired an additional 5.49% equity and loan note interest in the Dutch High-Speed Rail public-private partnership project for close to €12m.

HSBC Infrastructure Company, a London-listed infrastructure investor, has increased its stake in a high-speed rail investment in the Netherlands by 5.49 percent, the fund announced yesterday.
The acquisition, worth €11.6 million, takes HSBC Infrastructure’s total stake in the project, known as the Dutch High-Speed Rail public-private partnership (PPP), to 42.99 percent. HSBC Infrastructure said the high-speed rail project now comprises 12.5 percent of its portfolio. It did not disclose the seller.
The Dutch high-speed rail PPP has been operational since 2006 and requires the private partner to operate and maintain two sections of train track, power and signalling between Amsterdam and the Belgian border. The private sector consortium – which also includes Siemens, Fluor and BAM – receives availability payments from the Dutch state in exchange for making the asset available to pre-agreed standards. The concession contract will expire in 2031.
HSBC Infrastructure was the first infrastructure investor to list on the London Stock Exchange. It currently owns 38 infrastructure investments, 37 of which are PPP projects. The fund invests mainly in operational projects already “yielding steady returns,” it said in a statment.