In QuotedDatas morning briefing 10 October 2022:
- abrdn Private Equity Opportunities Trust (APEO) has announced an increase in the size of its loan facility from £200m to £300m. The facility, which is a syndicated multi-credit facility agreement, has seen the Royal Bank of Scotland International Limited join as a lender and Natwest Markets Plc replace Citibank Europe plc as agent in the syndicate of banks providing the loan facility. The other lenders are Société Générale and State Street Bank International GmbH. The Loan Facility, which matures in December 2025, had £62.0m drawn as at 30 September 2022. The margin on the loan facility is 1.625%, rising to a maximum of 2.0% depending on utilisation, and the commitment fee payable on non-utilisation is 0.7% or 0.8% per annum, reducing depending upon utilisation. An arrangement fee of 0.8% is also payable.
- JLEN Environmental Assets (JLEN) has announced that it will be holding a capital markets day, for analysts and institutional investors, on Tuesday 8 November 2022 from 10:00 am to 11:45 am GMT. The event, which will be hosted and led by JLEN’s managers, Chris Tanner and Chris Holmes, will outline JLEN’s view on the areas of opportunity for environmental infrastructure and provide insight into some of the acquisitions made by JLEN recently (although it also says that no new material, including trading or financial information, will be disclosed during the presentation). If you are interested in attending JLEN’s Capital Markets Day for equity analysts and institutional investors, please email jlen@secnewgate.co.uk to register. The same presentation team is also to be presented to retail investors at UK Investor Magazine’s ‘Investment Trusts & Funds’ Conference at 17:30 GMT on the same day (8 November). Retail investors can register to watch the presentation using the following link: https://ukinvestormagazine.lpages.co/uk-investor-magazine-virtual-investment-trust-conference/It should be noted that persons located in the United States and U.S. Persons (as defined in Regulation S under the US Securities Act of 1933, as amended), wherever they are located, are not permitted to attend the Capital Markets Day or to view the presentation given to the UK Investor Magazine’s ‘Investment Trusts & Funds’ Conference.
- Impact Healthcare REIT (IHR) has sold a non-core care home for £2.65m at a 4% premium to the latest book value as at 30 June 2022. The sale of Attlee, a 68-bed care home in Wakefield, which was acquired as part of the seed portfolio in March 2017, was not considered a long-term strategic asset for IHR.
- In other news, the Bank of England has announced that it is expanding its temporary bond buying programme to prepare banks for liquidity pressures as the programme ends this Friday, 14 October. The Bank had previously committed to buying up to £5bn in gilts per day, or £65bn over the course of the program, but it has now increased this limit to £10bn a day. In a statement issued this morning (10 October), the Bank said it was “prepared to deploy this unused capacity to increase the maximum size of the remaining five auctions above the current level of up to £5bn in each auction”. It went on to say that “The maximum auction size will be confirmed each morning at 9am and will be set at up to £10bn in today’s operation”. The Bank has also said that it will be launching a Temporary Expanded Collateral Repo Facility that also aims to ease liquidity pressures as its temporary quantitative easing programme comes to an end.
- A number of papers report that windfall taxes on UK-based renewable energy projects may be back on the agenda. The proposals seem to centre around capping the price that they can charge for their energy. Share prices for a number of renewable energy funds have fallen sharply.
We also have the pausing of the Sustainable Farmland Trust’s IPO and a new acquisition by Unite Students.