In QuotedData’s morning briefing 19 March 2024:
- SDCL Energy Efficiency Income Trust (SEIT) provided an interim update for the period from 1 October 2023 to 18 March 2024. The company noted that it is on track to deliver fully cash covered aggregate dividends of 6.24p per share for the financial year to 31 March 2024 and that the portfolio continued to perform in line with the guidance provided in the interim report for the period ended 30 September 2023. During the period SEIT made investments totalling £52m, all of which was organic investment into existing assets under development or construction predominantly in Red Rochester and Onyx where the company anticipates strong double-digit internal rate of returns.
- Tufton Oceanic Assets (SHIP) announced its interim results for the six month period ended 31 December 2023. The NAV total return was 9.6% per share which was driven by strong portfolio operating profit and asset value gains. The company bought back 8,436,000 shares at the average price of US$0.98 per share and maintained a consolidated gearing ratio of 12.7%. Regarding the outlook, the company has reviewed the opportunity set and believes the correct strategy for SHIP over the medium term, through to 2030, is to continue investing in fuel-efficient secondhand vessels to maximise shareholder returns, intending to realise the company’s portfolio of assets starting from 2028, well before the decarbonisation of shipping accelerates.
- Pantheon Infrastructure (PINT) announced that it has extended the term of its £115m RCF. The facility will now mature in March 2027, which represents an extension of 15 months on the current facility. The terms of the loan have remained broadly unchanged and the company has been able to maintain pricing at existing levels, with a margin of 2.85% per annum over the relevant currency benchmark rate.