3i Infrastructure raises £100m in placing

3i Infrastructure has raised £100m through a share placing, the Jersey-based investment trust confirmed on Friday.

The FTSE 250 firm said a total of 30.92m shares were issued at a price of 330p each, raising net process after costs of £100m. The price represented a discount of around 3.4% to 3i Infrastructure’s share price immediately before it announced the placing, on Monday.

The funds will be used to pay down debt as well as securing liquidity for future investment.

Richard Laing, chair, said: "The proceeds will provide the company with useful additional flexibility to fund attractive discretionary growth opportunities in our portfolio, such as a recent £28m commitment to acquire Future Biogas, which as a sister company to Infinis will form the largest producer of green gas in the UK."

JP Morgan Cazenove and RBC Capital Markets were the joint bookrunners.