Babcock & Brown Infrastructure plans A$700 million financing

By Sheri Kasprzak

New York, Feb. 1 - Babcock & Brown Infrastructure Ltd. said it intends to raise A$700 million, partly from a private placement and partly from a non-renounceable entitlement offer.

The company plans to sell 182 million stapled securities to institutional investors, 20 million stapled securities to a member of Babcock & Brown Group and the rest of the offering will be comprised of the non-renounceable entitlement offer.

The price per stapled security could not be determined Wednesday.

Proceeds will be used for the acquisition of PD Ports plc.

Another of Babcock & Brown Group's subsidiaries, Babcock & Brown Environmental Investments Ltd., priced a A$45.72 million private placement on Nov. 29. That offering included 25.4 million shares at A$1.80 each.

Based in Sydney, Australia, Babcock & Brown is an investment company focused on acquiring environmentally friendly assets.

On Wednesday, the company's stock (Australia: BBI) remained unchanged at A$1.66.

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