InfraREIT (HIFR) Prices 20M Common Offering Above Expected Range at $23/Share

InfraREIT, Inc. (NYSE: HIFR) announced the pricing of the initial public offering of 20 million shares of its common stock at $23.00 per share. The shares of common stock are expected to begin trading on the New York Stock Exchange ("NYSE") on Jan. 30, 2015, under the ticker symbol "HIFR". The underwriters have been granted a 30-day option to purchase up to an additional three million shares of common stock from InfraREIT at the initial public offering price, less underwriting discounts and commissions. The offering is expected to close on or about Feb. 4, 2015, subject to customary closing conditions. InfraREIT is a real estate investment trust that owns rate-regulated electric transmission and distribution assets in the state of Texas. The Company is externally managed by Hunt Utility Services, LLC, an affiliate of Hunt Consolidated, Inc. (a diversified holding company based in Dallas, Texas and managed by the Ray L. Hunt family).

*** Pricing compares to an expected range of $19 to $21 per share.

BofA Merrill Lynch, Citigroup, RBC Capital Markets and Morgan Stanley are acting as the joint book-running managers for the offering. UBS Investment Bank and Wells Fargo Securities are acting as senior co-managers for the offering. Scotiabank/Howard Weil and Societe Generale are acting as the co-managers for the offering.

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