In QuotedData’s morning briefing 25 January 2022:
- JPMorgan European has secured permission from investors to merge the growth (JETG) and income (JETI) share pools. The unification will create a single class of ordinary shares, which will each have an NAV of 100p as determined at 5:00 p.m. on 31 January 2022. The resulting number of ordinary shares will be announced on 3 February 2022, with dealings expected to commence at 8:00 a.m. on 4 February 2022.
- Phoenix Spree Deutschland (PSDL) has completed a new €60m loan facility and the refinancing of existing debt on improved terms. The new facility is with Natixis Pfandbriefbank AG and comprises two components: a €45m acquisition facility and a €15m capex facility. The facility matures in September 2026 and carries an interest rate of 1.15% over 3-month Euribor. Additionally, the company has refinanced existing debt provided by Berliner Sparkasse. The refinancing leverages the increase in valuation of certain underlying assets within the portfolio, releasing a further €14.9m of equity. The total value of the loans that have been refinanced is €49.7m and the maturities remain unchanged (at between five and six years).
We also have an update from Foresight Sustainable Forestry and more acquisitions by Home REIT.
