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QuotedData’s morning briefing 7 September 2022

In QuotedData’s morning briefing 7 September 2022:

  • SDCL Energy Efficiency Income Trust (SEIT) says its issue was oversubscribed and has been expanded to £135m, accordingly the company will issue a total of 118,421,053 new ordinary shares at 114p of which 5,139,370 relate to the retail investor offer. It is expected that dealings in the new shares will start at 8.00 a.m. on Friday 9 September 2022.
  • After taking legal advice to ensure that this operation involves no breach of UK sanctions, Barings Emerging EMEA Opportunities (BEMO) is converting its holdings in ADRs in four Russian stocks into locally listed (Moscow Stock Exchange – MOEX) stocks. Lukoil, Norilsk Nickel and Novatek have been converted into local shares, whilst Gazprom remains in progress. These conversions have no impact on the valuation approach. Due to the continuing restrictions on sales from the Russian exchange, the company will continue to value them at zero.
  • ThomasLloyd Energy Impact (TLEI) says that it has deployed 66% of its IPO proceeds and expects that the remaining IPO proceeds will be substantially deployed shortly.
  • Molten Ventures (GROW) has agreed a new £150m debt facility with J.P. Morgan Chase Bank and Silicon Valley Bank.The facility comprises a £90m term loan and a revolving credit facility of up to £60m on three-and two-year periods, respectively, both with one-year extensions up to five years, and is secured against various assets and LP interests in the Group. The interest rate is SONIA plus a margin of 5.5% per annum. The maximum loan to value ratio is capped at 10%. The existing £65m facility with SVB and Investec will be repaid.

We also have news of new investments by Atrato Onsite Energy and Riverstone Energy and a sale by Helical

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