- The international oil market has moved to a price level not seen in about twenty years. The price of Brent crude oil fell to under $16 a barrel this morning. This follows the move into negative territory earlier this week in the US WTI crude oil benchmark.
- Alcentra European Floating Rate Income is convening an EGM to approve a strategy of realisation of the company’s investments and return of capital to the shareholders. The decision reflects the shrinkage of the company as it has sought to control its discount through tender offers.
Lower demand for energy is impacting UK power prices too. This morning, we have an update from Renewables Infrastructure Group on UK power prices and its dividend (it re-affirmed on its guidance). We also have annual results from RM Secured Direct Lending and in real estate, Unite Students, the student accommodation owner, has said it expects a 16%-20% reduction in income for the 2019/20 academic year. Elsewhere, BlackRock Frontier‘s discussed its best and worst performing markets over March.
This afternoon, we also heard from JZ Capital, who said they will not be making new investments.