JLIF seeks £123m in share placing

John Laing Infrastructure Fund yesterday announced plans to raise £123m through a share placing to refinance a bank loan. The company struck a deal on Friday to buy a portfolio of 11 assets from Investors in the Community, the fund’s biggest deal since its 2010 float, for £123m drawn from the bank facility. The share placing will be used to repay this. It follows a separate £35m capital raising last month. Yesterday the group posted a five per cent increase in the value of its portfolio.