Refinancing of investee company
Updated : 13:41
Ventus 2 VCT plc (the "Company")
Refinancing of investee company
We are pleased to announce that Temporis Capital Limited has closed the refinancing of one of the Company's investments, Osspower Limited, which owns and operates a hydro-electric scheme near Loch Lomond, Scotland.
Bayern LB provided a term loan of £7.8m to the investee company, at a blended rate of 2.97% and over a term of 12.5 years. The debt is fixed price and fully amortising. The proceeds fully repay loan facilities taken out in 2014.
The investment is held in the ordinary share portfolio. The reduced cost of debt will increase cashflow to the Company from the investee company. This is part of the Board's continuing strategy to enhance value to shareholders through active management of the Company's assets.
For and on behalf of the Board
Alan Moore
Chairman
1 July 2019
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.