BBGI Global Infrastructure secures £230m revolving credit facility – BBGI Global Infrastructure has secured a new committed multi-currency revolving credit facility of £230m from ING Bank, DZ Bank, KfW IPEX-Bank and SMBC Bank. This will replace the current £180m facility with ING, DZ, and KfW which commenced in January 2018 and matures in January 2022. The […]
Caledonia Investments sells Deep Sea Electronics – Caledonia Investments has sold its largest portfolio holding (as at 30 April), Deep Sea Electronics to Genarac Holdings, a leading global designer and manufacturer of energy technology solutions. DSE was acquired by Caledonia in October 2018 and has grown strongly since then. The company said it has secured […]
In QuotedData’s morning briefing 1 June 2021: Blackstone Loan Financing has announced plans for a share repurchase programme to repurchase ordinary shares within certain pre-set parameters, following the expiry of the previous programme on 26 May 2021. The new share repurchase programme will start today and will run until the company’s upcoming AGM on 23 July […]
QuotedData’s weekly news show 28 May 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Gresham House update Strategic Equity Capital takes action on discount AVI asks Third Point Investors to tackle its […]
This week, I was given the opportunity to speak at the Anaerobic Digestion and Biogas Association’s (ADBA’s) spring finance forum. We heard from a number of interesting speakers on the challenges that this relatively new industry faces and the innovative solutions that are being implemented to address these. At present, within the listed renewables funds […]
Volta Finance has made an announcement in relation to the results of its AGM, which was held on 8 December 2020, and raises questions as to whether some shareholders are disgruntled and whether some of the directors might be in the firing line. To summarise, the votes against the resolutions to approve the re-election of […]
HarbourVest Global Private Equity (HVPE) has announced its annual results for the year ended 31 January 2021, during which it has provided NAV per share increase of 30.4% over the financial year – the largest 12-month increase in HVPE’s 13-year history. It says that this compares against a return of 17.4% for its FTSE All-World […]
Edinburgh Investment Trust(EDIN) has announced its annual results for the year ended 31 March 2021, the first since the appointment of Majedie Asset Management as portfolio manager. The results are good news for shareholders, with EDIN providing an NAV total return of 34.8% and a share price total return of 46.4%, both of which are […]
Volta Finance Limited (VTA) has brought a dodgy website to investors attention this morning. In its announcement, it says that it has discovered a website purporting to represent Volta Investment Group (VIG), which is an entity entirely unrelated to VTA. However, the website for VIG incorrectly states that a number of VTA’s Directors are involved […]
Following shareholder approval of the implementation of a placing programme at a general meeting earlier this week, Ashoka India Equity (AIE) has now announced that it intends to conduct a fundraising by way of an initial placing, offer for subscription and intermediaries offer. This initial issue will be part of a proposed ongoing share issuance […]
Civitas Social Housing (CSH) has announced that it has completed the acquisition of 10 supported living properties across Hertfordshire, Essex, Suffolk and Wales for a total consideration of £8.6 million (excluding purchase costs). The portfolio provides adapted homes along with personalised specialist care for 41 individuals with complex mental health care needs, administered by three […]
VH Global Sustainable Energy Opportunities (GSEO) has announced that it has made a $63m commitment to fund the construction of 18 remote distributed solar generation projects across ten Brazilian states with a total capacity of 75MW. GSEO says that the fully-equity funded projects are at the ready-to-build stage and are expected to be operational in […]
In a move somewhat reminiscent of Infrastructure India’s funding arrangements (where an entity connected to its manager and largest shareholder provided debt financing to the company), JZ Capital Partners (JZCP) has issued a circular and has announced that it is calling an EGM relating to its proposed issuance of loan notes to David W. Zalaznick […]
In a bid to take action on its persistent discount, Strategic Equity Capital (SEC) has announced that it will offer shareholders contingent tenders in 2022 and 2024. A 10% tender will be offered in 2022 tender if SEC trades at a wider than average discount of 8 per cent. over the 12 months ending 30 […]
In QuotedData’s morning briefing 28 May 2021: UK Mortgages (UKML) has provided an update this morning in which it says that it has completed the sale of the second portfolio of loans originated by the Coventry Building Society that had been securitised in the Malt Hill No.2 transaction. In February 2021, UKML’s board said that […]
AVI asks Third Point Investors to tackle its discount – Asset Value Investors, managers of AVI Global Trust, have written to the directors of Third Point Investors, the London-listed hedge fund, to ask them to convene a general meeting at which a resolution would be put to shareholders: THAT the existing investment policy of the […]
Downing Renewables & Infrastructure to acquire utility company Elektra – Downing Renewables & Infrastructure has signed an exclusivity agreement with AB Edsbyns Elverk, a local Swedish multi-utility, to buy EE’s subsidiary Elektra Nät AB – a local regulated electricity distribution company – and a portfolio of three hydropower plants. The trust has submitted an indicative bid in […]
Renewables Infrastructure Group acquires two Swedish wind farms – The Renewables Infrastructure Group has announced it has exchanged contracts to acquire a 50% interest in two Swedish onshore pre-construction wind farms, Ranasjö and Salsjö. The projects are located in central Sweden and together are known as ‘Twin Peaks’, with a combined capacity of 242MW. The acquisition is […]
TR Property beats benchmark despite earnings dip – TR Property shared its annual financial report for the year ended 31 March 2021, which revealed earnings for the year were 12.25p per share, 16% lower than the prior year earnings of 14.62p. However its NAV total return was 20.7%, ahead of its benchmark total return of 15.9%, and the […]
€500m debut green bond issuance for Tritax EuroBox – Tritax EuroBox has announced the pricing of €500m of senior unsecured green bonds maturing on 2 June 2026, which were significantly oversubscribed, having generated substantial demand from institutional investors. The 2026 Notes will have a tenor of five years and an annual coupon of 0.95%. This issue will […]
Caledonia Investments achieves 54th annual increasing dividend – Caledonia Investments has published results for the year ended 31 March 2021. The NAV increased by 23.6% compared to the previous year, to 4000p while the NAV total return was 25.9%. This compares to a NAV total return of -8.1% for the year ended 31 March 2020. The company achieved its 54th […]
The Liontrust ESG Trust prospectus is out and, as promised, we are making it available here. As always, we are not recommending that you buy the shares. In fact we are not acting in any capacity with respect to the IPO. The prospectus is just provided for your convenience. There are geographic restrictions on who can invest in the […]
In QuotedData’s morning briefing 27 May 2021: Apax Global Alpha is committing $90m to the new Apax Digital Fund II. like Apax Digital, the new fund will invest in a balanced portfolio of minority equity and growth buyout opportunities in mid-market technology companies globally. Apax has a longstanding focus on the technology sector and a global reach. […]
RTW Venture backs NiKang Therapeutics Series C – NiKang Therapeutics, Inc announced on 26 May 2021 that it had completed a $200m Series C financing round. RTW Venture alongside other investment vehicles of RTW Investments, LP participated in the financing round. Investors in the Series C include Cormorant Asset Management, HBM Healthcare Investments and Octagon Capital; syndicates of funds, […]
Sharp falls in retail property hit British Land – Over the year ended 31 March 2021, British Land’s NAV fell by 16.3% to 648p. The full year dividend totalled 15.04p, based on 80% of its earnings per share, pre-COVID the dividend for the year ended 31 March 2019 was 31.0p. Headlines are: Financial performance reflects the […]
Flat year for HICL Infrastructure – HICL Infrastructure has published results for the year ended 31 March 2021. The NAV was flat at 152.3p and the NAV total return for the year was 5.5%. The company met its 8.25p dividend target for the year and says that it hopes to maintain it at this level for […]
JLEN gets an ESG-linked credit facility – JLEN Environmental has agreed a new committed multicurrency revolving credit facility (RCF) of £170m and an uncommitted accordion facility of up to £30m. The money can be borrowed in both sterling and euros and at lower interest rates than the existing facility. The innovative thing is that the interest that […]
In QuotedData’s morning briefing 26 May 2021: AVI Global produced an NAV return of 26.8% and a share price return of 29.1% over the six months ended 31 March 2021. These numbers compare well to the 13.5% return on the trust’s benchmark and help make it one of the best performing funds in its sector over […]
BB Biotech’s bet on a positive US regulatory review of Biogen’s controversial Alzheimer’s disease therapy aducanumab is poised for its denouement, with the PDUFA date – the deadline for the FDA to render an approval decision – now less than two weeks away. The Swiss investment firm acquired a stake in Biogen (accounting for 3.3% […]
Following on from yesterday’s (May 24) announcement from Gresham House Strategic’s (GHS’s) board that it will conduct a strategic review on the existing strategy against other strategies available (click here to read our news story from yesterday), it was announced this afternoon that GHS’s manager, Gresham House, had accepted the resignation of Richard Staveley, who has […]
