In QuotedData’s morning briefing 29 September 2020:
- Greencoat UK Wind’s issue was well oversubscribed. It has raised £400m and will issue over 305m shares. The money will be used to pay down debt to £600m (21% LTV).
- PRS REIT says that it has arranged an additional £50m of debt facilities with Barclays Bank, taking its total facilities to £450m. At the moment, the 45% LTV covenant on its debt prevents debt exceeding £400m. The company says “The additional development debt facilities will enable the company to accelerate the delivery of the balance of its development sites as it moves towards completion of its initial portfolio. Following practical completion of these sites and stabilisation of lettings, the assets will be refinanced using the company’s longer-term investment debt facilities, which are already in place.”
- Polo Resources has been unable to appoint an AIM Nominated Adviser within the timeframe set by the AIM Rules. The company’s shares will therefore be delisted with effect from 30 September 2020 and will no longer trade on the AIM exchange.
Pacific Horizon has announced its annual results. We also have news that Ken Wotton is replacing Jeff Harris as one of the lead managers at Strategic Equity Capital and Jupiter UK Growth is giving up.