In QuotedData’s morning briefing 8 November 2024:
- Blackstone Loan Financing (BGLF) has announced that further to the approval given by the company’s shareholders to enable compulsory redemptions of its redeemable ordinary shares and following the first redemption made by the company on 10 June 2024, BGLF has announced that it will return approximately €61m by way of a compulsory partial redemption on or around 19 December 2024. The proportion of shares subject to the second redemption will be calculated by reference to the NAV per share as at 31 October 2024 which the board plans to announce on 21 November 2024 alongside the detailed timetable for the second redemption.
- BioPharma Credit (BPCR) announced that it has, together with BioPharma Credit Investments V, entered into a definitive senior secured loan agreement with Geron Corporation. The Company will invest up to US$100m and BioPharma-V will invest up to an additional US$150m in parallel, with the company acting as collateral agent. Based in the US, Geron is a commercial-stage biopharmaceutical company with a current market capitalization of ~US2.5bn committed to extending and enhancing the lives of people living with blood cancers.
- Workspace Group (WKP) has sold Rainbow Industrial Estate, a redevelopment site in Raynes Park, for £20.3m (£1.0m below the March 2024 valuation) at a net initial yield 3.5%. Workspace had secured planning consent for a mixed-use redevelopment of the site comprising 224 residential units and 37,000 sq ft of new light industrial space.
- NB Distressed Debt has announced a $5.5m capital distribution for the Extended Life (NBDX) share class (equivalent to approximately $0.1243 per NBDX share) and £1.5m capital distribution for the Global (NBDG) share class (equivalent to approximately £0.0539 per NBDG share). The distributions will take the form of compulsory redemptions of shares at 99.8 cents per shate and 55.35p per share, respectively. Approximately 12.44% of the NBDX and 9.70% of the NBDG issued share capital will be redeemed. You should get the cash around 10 December.
