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Macquarie Infrastructure Company Update

Dépèche transmise le 24 janvier 2012 par Business Wire

NEW YORK--(BUSINESS WIRE)--Macquarie Infrastructure Company (NYSE: MIC) announced that it expects a decision in the arbitration involving itself and the co-shareholder of International-Matex Tank Terminals (“IMTT”) after February. MIC initiated the arbitration in April of 2011 as a means of resolving differences with its co-shareholder principally over distributions paid from IMTT to MIC.

At the conclusion of the in-person portion of the hearing in January, the arbitration panel set February 15 as the date for closing legal arguments. As MIC had previously requested a written assessment of the factors considered in the final award making, the Company believes it is unlikely the panel will render a decision before the end of February.

MIC remains positive with respect to its ability to succeed on the merits of its case and to increase shareholder dividends as previously indicated.

In a separate comment MIC noted that its aviation related business, Atlantic Aviation, had successfully lowered debt levels and removed restrictions on its ability to make dividend payments to MIC. Atlantic is now expected to dividend about $25.0 million to MIC from the fourth quarter of 2011 until the start of the fourth quarter of 2012.

Under the terms of the Atlantic loan agreement, while the leverage level remains below 6.0 times, the business will dividend 50% of the cash it is generating up to MIC. The leverage level in the business was reduced to below 6.0 times trailing twelve month EBITDA at December 31, 2011.

MIC is scheduled to release its financial results for the full year 2011 following market close on Wednesday, February 22.

About Macquarie Infrastructure Company

Macquarie Infrastructure Company owns, operates and invests in a diversified group of infrastructure businesses providing basic, everyday services, to customers in the United States. Its businesses consist of three energy-related businesses including a gas production and distribution business (The Gas Company in Hawaii), a controlling interest in a district energy business (District Energy), and a 50% interest in a bulk liquid storage terminal business (International-Matex Tank Terminals). MIC also owns and operates an aviation-related airport services business (Atlantic Aviation). The Company is managed by a wholly-owned subsidiary of the Macquarie Group. For additional information, please visit the Macquarie Infrastructure Company website at www.macquarie.com/mic. MIC-G

MIC is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of MIC do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of MIC.

Business Wire

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