Ventus 2 VCT PLC Refinancing of investee companies (2242K)
July 05 2017 - 9:27AM
UK Regulatory
TIDMVEN2
RNS Number : 2242K
Ventus 2 VCT PLC
05 July 2017
Ventus 2 VCT plc (the "Company")
Refinancing of investee companies
We are pleased to announce that Temporis Capital has closed the
refinancing of two of the Company's investments, which own and
operate wind farms at Eye and Weston in East Anglia and between
them have a generating capacity of 10.8MW.
Bayern LB provided term loans of GBP11.5m between the two
investee companies, at a blended rate of
3.83% and over a term of 14 years. The debt is fixed price and
fully amortising. The proceeds repay loan facilities taken out in
2013 to fund construction of the two wind farms.
A third refinancing, for the Company's investment in the North
Pickenham windfarm, also with Bayern
LB and on similar terms, is expected to close shortly.
The reduced cost of debt will increase cashflow to the Company
from the two investee companies, enhancing value for shareholders.
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
5th July 2017
This information is provided by RNS
The company news service from the London Stock Exchange
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