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QuotedData’s morning briefing 22 December 2020

In QuotedData’s morning briefing 22 December 2020:

  • The Renewables Infrastructure Group has exchanged contracts to invest in Phoenix SAS, which owns a portfolio of operational wind and solar renewable energy assets. The portfolio comprises five onshore wind farms in Northern France with a combined capacity of 74MW and four operational solar parks with battery storage located on the islands of Corsica and La Réunion with a combined capacity of 29MW. All the assets are backed by the French government’s Feed-in-Tariff subsidy. The investment is made in the form of mezzanine level bonds which are scheduled to be fully repaid within a period of 12 years, which is within the remaining subsidy life of the portfolio and offer returns with very little sensitivity to changes in wholesale power prices. This investment will represent approximately 2% of TRIG’s portfolio. When combined with the investment in East Anglia One, there will be drawings of approximately £40m under TRIG’s revolving credit facility.
  • RDL Realisation will hold an EGM on 12 January to approve its de-listing (the effective date of which is expected to be 10 February 2021, if shareholders approve). Ahead of that, shareholders are in line for a dividend of 16p per share, which is payable on 15 January 2021.
  • Creditors approved Global Resources Investment Trust’s CVA.
  • Grit Real Estate is proposing to transfer the listing category of its ordinary shares from a standard listing to a premium listing. The would qualify it for inclusion in the FTSE indices and increase protections for shareholders under the listing rules. The target date for this is 22 January 2021. The company is also looking to redomicile from Mauritius to Guernsey. Shareholders will vote on tis at its AGM next week.

In addition we have news of acquisitions made by UK Commercial Property REIT, Warehouse REIT and Stenprop.

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