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QuotedData’s morning briefing 27 October 2020

In QuotedData’s morning briefing 27 October 2020:

  • Aberdeen Diversified Income and Growth Trust will repurchase £43,904,000 of its 6.25% bonds, equivalent to 73.2% of the total issue. The purchase price of 154.094491% was calculated using a credit spread of 0.80% above the redemption yield on the United Kingdom 6% Treasury Stock due 7 December 2028. So, the total cost of the buyback is £67.65m. This will take 1.55p off the trust’s NAV. The trade will be effective on 2 November.
  • TOC Property Backed Lending said its largest loan (to Aquesta Limited) has been repaid and earned the fund an IRR of 7.43% over the life of the loan. The NAV has edged up by 1.495% to 82.96p.
  • Bluefield Solar’s NAV at end of September was 114.53p (after taking off the 2.05p interim dividend that will be paid tomorrow). The NAV return for the three months ending at the end of September was 1.3%. They say that the NAV reflects the adoption of the most recent power curves from three independent power forecasters, working capital movements, PPA contracts fixed in the period, the 64.2 MWp portfolio bought in August and an additional 38 MWp of the existing portfolio (278 MWp in total) now valued on the basis of 40 year asset life.
  • SDCL Energy Efficiency has completed its Vartan Gas deal.
  • Tufton Oceanic has bought a Handysize bulk carrier for $10.6m, taking the fleet to 19 vessels. The new vessel has a fixed rate time charter for ten to thirteen months to a large maritime transport and logistics company.

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