New Invesco merger proposals announced – City Merchants High Yield Trust announced on 1 March 2021 that it had signed Heads of Terms with the Board of Invesco Enhanced Income for a proposed merger. Now more details have been announced. It is proposed that the enlarged entity will be renamed Invesco Bond Income Plus Limited (“BIPS”) […]
In QuotedData’s morning briefing 22 April 2021: Hammerson (HMSO) has further reduced its debt having exchanged unconditional contracts on the portfolio sale of its seven retail park assets to Brookfield for £330m cash proceeds. This represents an 8% discount to the 31 December 2020 book value of £357m and an 8.6% net initial yield. This transaction […]
NB Private Equity on a roll – NB Private Equity Partners has published results for 2020. It was a good year for the trust, with NAV growth of 21.4% (in US dollar terms). The chairman also says that there was a high level of portfolio realisations at meaningful valuation uplifts and resilient aggregate underlying portfolio company performance. […]
Acorn Income rethinks its future after difficult 2020 – Acorn Income Fund has published results for the year ended 31 December 2020. This was not a great period for this company which is geared by zero dividend preference shares and invests in a mix of UK small caps and high yielding securities. The NAV total return […]
In QuotedData’s morning briefing 21 April 2021: Riverstone Credit Opportunities (RCOI) participated in a $63.0m first lien delayed-draw term loan to a lithium-ion battery company [Imperium3 New York – or IM3NY] that will commercialise high performing lithium-ion batteries by developing a large-scale manufacturing facility in Endicott, NY. In addition to having a first lien on the manufacturing […]
Aquila European Renewables results reflect effect of falling power prices – Aquila European Renewables has published results covering the year ended 31 December 2020. Highlights are: The year end NAV was €316.9m or 99.96 cents per share down from 102.7 cents. This translates as a total return of 0.7%. The return to shareholders was 2.0% In line […]
In QuotedData’s morning briefing 20 April 2021: Octopus Renewables (ORIT) has secured debt finance for the construction, commissioning, operation and maintenance of a wind farm in Cerisou, France. The new €43.2m debt facility is provided by Société Générale. Construction at Cerisou is on schedule to begin in H2 2021, with the project expected to be fully operational in […]
This week I was fortunate to attend a seminar organised by Aberdeen Standard Investments (ASI) on inflation. The speakers included Iain Pyle, who is the manager of Shires Income, which we have written about a few times, and Nalaka de Silva, manager of Aberdeen Diversified Income & Growth, who we had on the weekly show […]
NB Distressed still in distress – NB Distressed Debt Investment Fund has published results for the year end 31 December 2020. The fund is in wind-up mode and so the focus is on maximising proceeds from the portfolio and getting that back to investors. There are three principal share classes – ordinary shares (NBDD), extended life […]
Electra sells Sentinel and updates on portfolio – Electra Private Equity has sold Sentinel Performance Solutions Group (UK manufacturer of products to improve the performance of heating and closed water systems) to Aalberts N.V.. Aalberts is a global industrial technology group headquartered in Utrecht, the Netherlands and listed on the Amsterdam Stock Exchange (www.aalberts.com). Sentinel Following […]
