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QuotedData’s other news 2 October 2019

In QuotedData’s other news 2 October 2019:

  • Hadrian’s Wall Secured Lending (HWSL) has provided an update with respect to Biomass Premium Fuels Limited and Biomass Optimum Fuels Limited which separately acquired the assets of Arensis Energy Ltd, Entrade Energy Ltd and Arensis Energy One Ltd out of administration on 21 December 2018. BOFL has entered into a strategic partnership with the SDL Group to operate the manufacturing facilities of BOFL and BPFL is now engaged in ongoing discussions and due diligence to enter into a joint venture or partnership. HWSL says that these discussions have not progressed at the pace previously anticipated, however, discussions are continuing. It also says that the completion of the agreement between BOFL and SDL reduces the risk of material loss to the HWSL in respect of BOFL.
  • Sirius Real Estate (SRE) has provided one of its regular trading updates, which includes an announcement that it has extended its existing banking facility with BerlinHyp. Specifically, SRE has agreed a €115.4 million increase in the facility from €64.8 million as it stands today, to €180.2 million after the extension. As part of the extension agreement, the Company’s Nabern-Kirchheim asset will be added to the security portfolio, which was previously financed as part of its K-Bonds facility (this was subsequently repurchased). The company says that, on a net basis, it will  have approximately €90.0 million of surplus funds available from the extended BerlinHyp facility after taking into account the K-Bonds repayment.  The new extended BerlinHyp facility expires on 31 October 2023, has an all-in fixed interest rate of 0.9% and requires amortisation payments of 1.25% per year. The Company expects, when it announces its half-year results on 25 November 2019 after drawing down the increased facility with BerlinHyp,  to remain at a net LTV of less than 40%.

We also have stories on Supermarket Income REIT doubling the size of its fundraise to £100m, JZ Capital Partners moving to a more ambitious liquidity plan and Strategic Equity Capital’s annual results, which showed it comfortably beat its benchmark for the year ended 30 June 2019.

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