3i Infrastructure looks to cut debt through placing

3i Infrastructure said it was placing up to 81m shares to pay down debt, with the price to be determined via a bookbuild.

The placing would also help provide flexibility to finance future acquisitions from a "healthy pipeline of potential infrastructure investments in the UK and Continental Europe", the company said on Thursday.

Placing shares will qualify for the interim dividend for the first half of the year to March 31, 2020, which is expected to be declared in November 2019. The Placing is expected to close at 1600 BST on October 10.