John Laing Environmental Assets announces £30m bookbuild – Further to the announcement on 12 February 2018 of its intention to undertake a share issuance programme, JLEN has further announced that they will be targeting the raising of £30m via a bookbuild. This is to be used to repay amounts drawn under the revolving credit facility in order to finance acquisitions across the Biomass and Anaerobic Digestion sectors.
About John Laing Environmental Assets
John Laing Environmental Assets aims to provide its shareholders with a sustainable dividend, paid quarterly, that increases progressively in line with inflation, and to preserve the capital value of its portfolio on a real basis over the long term.
JLEN invests in environmental infrastructure assets with predictable, wholly or partially index-linked cash flows supported by long-term contracts or stable regulatory frameworks. Environmental infrastructure comprises projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency.
We have written a note that explains in some detail how the fund works and gives some background on the environmental infrastructure sector in the UK. You can read it here.
JLEN : John Laing Environmental Assets announces £30m bookbuild