Polar Capital Global Financials plans C share issue – The board of Polar Capital Global Financials Trust says that it notes the continued strong interest in the financials sector and consequent demand for the company’s shares. Since 30 November 2020, the company has re-issued 45,199,900 ordinary shares from treasury, across a large number of transactions, raising […]
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 […]
