In QuotedData’s morning briefing 14 June 2022:
- CVC Credit Partners European Opportunities has renamed itself CVC Income & Growth Limited. The new tickers are CVCG for the ordinary sterling shares and CVCE for the euro shares. The new website is www.ig.cvc.com
- Value and Indexed Property Income (VIP) says that it will pay £1.319 for every £1 nominal of its 2026 debenture stock as it redeems this early. The 2026 debenture stock pays interest of 9.375% each year, well ahead of market rates of interest. This depresses the trust’s returns which is why they want to redeem it early. However, holders of the debenture stock need to be compensated as they will not be able to find a replacement investment with the same risk and return in the current market. [The timing of this seems strange given how fast long term interest rates are rising currently, it might have been cheaper to wait a few months.]
We also have news of a sale of an investment by Hg Capital, a fundraise by Foresight Sustainable Forestry and results from Palace Capital