- Murray International has agreed a new GBP30 million loan facility with the Royal Bank of Scotland International Limited which was drawn in full on 16 May 2019 and fixed for five years at an all-in rate of 2.25%. The new facility has, in part, been used to repay a maturing GBP15 million loan (also with the Royal Bank of Scotland International Limited).
- On 16 May 2019, the Labour Party published a document entitled Bringing Energy Home, in which it sets out its plans to renationalise National Grid. National Grid’s share price responded by falling 4.2% on the day. We believe that both Premier Global Infrastructure Trust (PGIT) and Ecofin Global Utilities and Infrastructure Trust (EGL) have small positions in National Grid (it represented 2.9% of PGIT’s portfolio as at 30 April 2019, making it PGIT’s 14th largest holding at that time; and, as at 29 March 2019, it represented 3.3% of EGL’s portfolio, making it the tenth largest holding, although by 30 April 2019 it no longer featured in EGL’s top ten). The issues around National Grid is a subject that has been commented on in QuotedData’s previous notes on both companies. For further information on the managers’ views:
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