Life insurer Just Group has made a £20m (€23.2m) loan investment in the UK’s M6 toll road.
The FTSE 250-listed firm, which manages £27bn of retirement savings, said it has provided the Midland Motorways Group with a 22-year refinancing loan to support upgrades such as smart motorway integration and modernised tolling systems.
The 27-mile six-lane toll road in the West Midlands is owned by IFM Investors and also backed by GLIL Infrastructure, a fund backed by a number of UK local government pension schemes.
Mohamed Tabi, director of credit and portfolio management at Just Group, said: “As a UK institutional investor deploying pension capital, Just is well positioned to finance nationally significant infrastructure that delivers long-term economic and social value.
“With a strong track record in private assets and a strategic focus on resilient UK investments, we are pleased to support the M6 toll road’s continued development on enhancing journey reliability and reducing emissions in the West Midlands. We help people achieve a better later life – it’s Just’s purpose and investments like this help us fulfil that purpose by providing certainty through long-term, fixed-rate financing into the economy.”
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