In QuotedData’s morning briefing 18 December 2023:
- US Solar (USF) has announced that six of its Oregon projects have signed new long-term contracts to sell Renewable Energy Certificates (RECs). The REC contracts and revised estimates of future REC prices are expected to increase USF’s NAV by c.$7.6m based on the 30 September NAV ($286.3 million) and contribute to additional operational cash dividend coverage from 2024 onwards.
- GCP Asset Backed Income Fund (GABI) has announced that it has received c.£35m from the early prepayment of loans secured against a portfolio of nurseries across the UK. The loan repayment dates were originally set between 2027 and 2031. The proceeds will enable the GABI to fully repay its outstanding debt facilities and end the year with no borrowings.
- JZ Capital Partners (JZCP) has announced that it has fully repaid its senior facility with WhiteHorse Capital Management. The repayment of the $45m facility represents the repayment in full of JZCP’s only outstanding debt obligation. By repaying its last outstanding debt JZCP can now plan to commence distributions to shareholders.
- Reconstruction Capital II’s (RC2) last day of trading is today. Cancellation of RC2 ordinary shares will become effective at 7.00 a.m. on Tuesday 19 December 2023.