In QuotedData’s morning briefing 16 April 2024:
- NextEnergy Solar Fund (NESF) announced it has refinanced its existing £135m short-term Revolving Credit Facility with AIB Group and NatWest which is due to expire in June 2024. The new facility is available until June 2026 and provides two additional 12-month extension options at NESF’s sole discretion to bring the maturity date up to June 2028. The RCF continues to benefit from attractive terms with a margin of 120bps over SONIA. The company is also on track to exercise its option to extend its current £70m RCF with Santander for another 12-months until June 2025 on similar terms and well ahead of its June 2024 expiry. The company will provide a further update to the market in due course.
- SEED Innovations (SEED) is pleased to announce that it has declared a maiden special dividend of 1.0 pence per share. This follows the company’s realisation of its investment in Leap Gaming as originally announced on 7 December 2022. The special dividend will be funded from existing cash reserves and is expected to be paid on 13 May 2024 to SEED shareholders on 26 April 2024, with the SEED shares being marked ex dividend on 25 April 2024.
- Regional REIT (RGL) has let over 30,000 sq ft at its office asset Lightyear, a Grade A office near Glasgow Airport, bringing the property to over 90% let with a contracted rental income of £1.3m per annum and in-line with its estimated rental value. Heathrow Airport Ltd (15,121 sq ft) and Rolls-Royce (15,116 sq ft) have signed leases at Lightyear for 15 and 10 years respectively. They join existing tenants Loganair, Taylor Wimpey UK Ltd and Cefetra Ltd.