- Infrastructure company HICL said one of its investments the Sheffield Building Schools for the Future project had entered into a public-private partnership in the UK to proactively amend its financing agreements ahead of the announced LIBOR cessation on 31 December 2021.

'The agreement becomes active upon the cessation of LIBOR and is subject to public sector client approval, in this case Sheffield City Council,' the company said.

'The intention is that this will be used as a template to provide a smooth transition for other UK PPP projects, including those in the HICL portfolio, during the remainder of the calendar year,' it added.

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