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QuotedData’s morning briefing 12 February 2021

QuotedData's Morning briefing

In QuotedData’s morning briefing 12 February 2021

  • Tetragon Financial are holding an investor call on 26 February 2021 at 3pm (UK time) to discuss its annual report and to provide a company update. The audio conference call may be accessed by dialling +44 (0) 800 358 9473 in the United Kingdom and +1 855 857 0686 in the United States. The Participant Pin Code 99853880#. During the call, it will seek to address questions raised by investors, including questions e-mailed to ir@tetragoninv.com.
  • SDCL Energy Efficiency Income Trust has announced that it has received a strong level of support from investors in relation to its placing announced on 4 February and, taking into account the strength of its near term pipeline, has decided is increasing the size of the placing to £160m.
  • FastForward Innovations Ltd, has announced that it has invested A$1 million (£560,000) in a placing undertaken by Little Green Pharma, an ASX-Listed, vertically integrated, medicinal cannabis business with operations from cultivation and production through to manufacturing and distribution. The placing raised a total of A$22m at a price of $0.65c; accordingly, FFWD expects to hold 0.9% of Little Green Pharma following issue of the placing shares.
  • Tiger Royalties and Investments has announced that the acquisition of Metrock Resources Ltd by Bezant Resources Plc has now completed and accordingly Tiger is due to receive 28,314,815 Bezant Shares on 18 February 2021 as settlement of outstanding loans of £46,250 which it has made to Metrock and the £30,200 fee due from Metrock. Upon issue of the New Shares to Tiger, the Company’s total shareholding in Bezant will increase to 83,870,371 shares representing 2.2% of the Bezant’s enlarged issued share capital on completion.

  • Riverstone Credit Opportunities Income has announced it has originated one new investment and partially realised another investment. RCOI participated in a $165.0 million first lien term loan to a private midstream company (U.S. Shipping Corporation) – that it describes as a leading provider of long haul marine transportation services for chemical, petroleum, and clean petroleum product cargoes in the U.S. Jones Act trade market. At closing on 10 February 2021, $6.5 million was committed by RCOI. The first lien term loan has a maturity of February 2024 and an expected all-in yield to maturity of 11.6% for RCOI on a fully-drawn basis. On the realisation side, RCOI originally participated in a first lien term loan for a privately-owned company (Project Mariners Paydown) that provides vessel and logistics services predominantly focused on the energy sector. The loan initially closed on 11 July 2019. Following a sale leaseback in Q1 2021, 15% of outstanding principal, along with interest and fees at the 109 call premium, was repaid. RCOI’s remaining commitment is $10.1 million.
  • Tritax EuroBox announced it had collected 100% of rent and not received a single request to waive or defer rent from its tenants. [This reflects the positive tailwinds in the logistics sector where accelerated online shopping has boosted demand for space.] The group agreed rent deferrals on around €1.6m of rent in its previous financial year (up to 30 September 2020) which is to be received in nine equal monthly instalments from January to September 2021. Repayments for January and February have been received in full, the group added. Earlier this week EuroBox announced it had increased its quarterly dividend from 1.1 euro cents per share to 1.25 euro cents per share.

We also have the acquisition of Herjavec Group by Apax X, in which Apax Global Alpha is an investor, TRIG’s acquisition of the Grönhult onshore wind farm project in Sweden, Greencoat UK Wind’s £198m placing to institutional investors and annual results from Scottish American, as well as news of a proposed £50m capital raise by Target Healthcare REIT.

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