In QuotedData’s morning briefing 24 September 2020
- Good progress with the construction of Gore Street Energy Storage’s Irish assets has helped deliver a 1.6p increase in the fund’s NAV over the second quarter of 2020 to 96.2p. An interim dividend of 2p has been declared, making 7p in total for the year ending 31 March 2020.
- Standard Life Private Equity Trust says it has doubled the size of its multicurrency credit facility to £200m. The loan remains undrawn. The interest rate on the facility is LIBOR / EURIBOR plus 1.625%, rising to 2.0% depending on utilisation, and the commitment fee payable on non-utilisation is unchanged at 0.7% per annum. An arrangement fee of 0.8% is payable on the additional £100m.
- JPMorgan Core Real Assets has now committed 99.5% of its IPO proceeds to investments and is about 74% invested.
- KKV Secured Loan Fund’s board has decided that, while its ordinary shareholders supported the continuation of the company in July 2020, concerns over the valuation of some of the assets in the portfolio and feedback from several major shareholders suggest that the ordinary share pool should be put into managed wind down alongside the C share pool. Shareholders will need to approve this and so another EGM is being arranged.
We also have results from European Opportunities and Tufton Oceanic Assets.