HICL Infrastructure has reached an agreement to dispose of its entire equity interests in the University of Sheffield Accommodation Project for GBP18 Million (USD22 Million).

HICL had been overseeing the management of over 4,000 student bedrooms for 14 years under a 40-year agreement, holding a 50% stake in the joint venture. The project encompassed both new construction and the renovation of the university's existing estate at the Endcliffe and Ranmoor campuses. The funds generated from the transaction will be allocated to reduce the balance on HICL's GBP650 million (USD806 Million) Revolving Credit Facility (RCF). With the completion of all announced disposals, it is anticipated that drawings on the RCF will stand at approximately GBP115 million (USD142.7 Million).