In QuotedData’s morning briefing 20 December 2023:
- International Public Partnerships (INPP) announced a series of measures to optimise the company’s portfolio and reallocate capital to improve shareholder returns and address its discount. These include: a transaction involving the realisation of its four OFTO senior debt investments worth c.£200; the full repayment of its corporate debt facility; acquisition of Moray East OFTO, and share buybacks.
- Shareholders in Asia Energy Impact (AEIP) have backed the board and blocked the liquidation of the company. This has the effect of negating the earlier vote against continuation.
- abrdn Property Income Trust (API) has completed the sale of a two-unit industrial asset in Livingston for £6.25m, reflecting a net initial yield of 6.37%. Cullen Square, Livingston is let to UK Mail and Crown Worldwide, with a weighted average unexpired lease term of just over two years. The lease to Crown was regeared this year, with the 2023 tenant break option being removed. Acquired in 2014, the investment has contributed a 13.1% annualised return over the hold period. The sale proceeds will be used to reduce the company’s revolving credit facility (RCF), which is subject to a floating rate of interest.