TINC raises EUR 78m for new investments

Investment company TINC Comm VA (EBR: TINC), an avid investor in onshore and offshore wind farms, has just completed a EUR 77.7 million (USD 96m) private placement.

The principal shareholders, Belfius Insurance and Gimv, exercised all of their preferential rights.

KBC Securities and Belfius Bank acted as joint global coordinators in this transaction. KBC Securities, Belfius Bank, Bank Degroof Petercam and Kempen acted as joint bookrunners and underwriters.

"TINC is pleased with the successful completion of the second capital raising since its IPO in 2015. ...The EUR 78 million of new funding provides the firing power to further invest in the growth and diversification of the portfolio,” said CEO Manu Vandenbulcke.

According to the investment prospectus, TINC will use part of the proceeds to repay outstanding financial debt but the larger part, or EUR 75.2 million, to be exact, will be "to respond swiftly to new investment opportunities that may arise to realise additional growth."

TINC holds a diversified investment portfolio of participations in various infrastructure, including energy infrastructure. Among its investments are the Belwind, Nobelwind and Northwind offshore wind farms in Belgium as well as several onshore wind farms in Belgium, Ireland and the Netherlands.

(EUR 1 = USD 1.237)

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