Ventus 2 VCT PLC Refinancing of investee company (0630E)
July 01 2019 - 8:40AM
UK Regulatory
TIDMVEN2 TIDMVNC TIDMVND
RNS Number : 0630E
Ventus 2 VCT PLC
01 July 2019
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 GBP7.8m 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
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END
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