In QuotedData’s morning briefing 20 April 2022:
- abrdn China has entered into a £15m unsecured multicurrency revolving loan facility with Industrial and Commercial Bank of China, London Branch for a two year period. The facility will be utilised for general working capital purposes and for the acquisition of new investments. Under the terms of the facility, ACIC also has the option to increase the level of the commitment from £15m to £30m at any time, subject to the lender’s credit approval. The facility has yet to be drawn.
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J.P. Morgan Securities has announced plans to sell 55 million existing ordinary shares in BioPharma Credit (BPCR) on behalf of Pablo Legorreta, founder and CEO of Royalty Pharma and a principal and co-founder of Pharmakon Advisors, the company’s investment manager. The proposed share sale represents approximately 4% of BPCR’s issued share capital. The price per share will be determined through an accelerated book building process to institutional investors. A further announcement will be made following completion of the booking building and pricing of the transaction. The company will not receive any proceeds from the transaction
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Industrials REIT (MLI) has acquired four multi-let industrial (MLI) estates, in Boston, Barnsley, Leeds and Stockton on Tees, for a total of £20.86m and a blended net initial yield of 5.7%. Totalling 260,000 sq ft and 100% occupied, the assets generate £1.25m of annualised rent. Following these transactions, Industrials REIT’s MLI portfolio now comprises 105 estates across 7.1 million sq ft of space.
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Schroder European Real Estate Investment Trust (SERE) has exchanged contracts to purchase a freehold car showroom property in Cannes, southern France, for €8.4m, reflecting a net initial yield of 5.5% and a reversionary yield of 6.4%. The 4,235 sqm showroom is fully let to FCA Motor Village France, a subsidiary of the global automotive manufacturer Stellantis Corporation. Brands traded from the asset include Fiat, Alfa Romeo, Jeep, Abarth and Lancia. The remaining lease term is three years with rent subject to annual indexation. The group said the site benefits from a scarcity of land and longer term scope for alternate use.
We also have final results from Petershill Partners.