In QuotedData’s morning briefing 5 September 2024:
- BioPharma Credit (BPCR) says it provided $132.925m of funding to Collegium Pharmaceutical to help fund its acquisition of Ironshore Therapeutics. BioPharma Credit already had exposure to Collegium through a $160.4m term loan. BioPharma Credit’s loans are part of a $645.8m senior secured loan funding package that was put together by Pharmakon Advisors, BioPharma Credit’s manager.
- International Public Partnerships (INPP) has been selling assets and paying down debt. It now plans to up its buyback programme to £60m as it looks to tackle its discount. The company is targeting a full-year dividend of 8.37p for the current financial year. It has increased the discount rate used to value its projected cashflows in the NAV calculation, that contributed to a fall in its NAV from 152.6p to 149.5p over the first half of 2024.
- Fondul Propriatatea (FP) has approved a tender offer for 269m shares at RON 0.6622 per share. Applications need to be in between 11 September and 25 September.
- We are pleased to see that Baillie Gifford UK Growth (BGUK) passed its continuation vote very convincingly – 93.5% to 6.5%.
- Hg Capital Trust (HGT) is investing £30.7m into Ncontracts, which provides integrated compliance, risk, and vendor management solutions to the financial services industry. This is part of a larger deal whereby Hg is supporting Ncontracts’ purchase of Venminder.
- Balanced Commercial Property Trust (BCPT) has announced that Asset Value Investors (AVI) sold its full position in the company yesterday (16.2m shares) following the announcement that Starwood would acquire the company and the subsequent uplift in BCPT’s share price. AVI had been one of the investors that had made an irrevocable undertaking to vote in favour of the deal. The deal now has irrevocable undertakings to vote in favour of the deal from 23.5% of shareholders.
We also have:
JPMorgan European Discovery tender four times oversubscribed
