Ventus 2 VCT logo

VEN2 - Ventus 2 VCT News Story

69.5p -1.0  -1.4%

Last Trade - 22/01/21

Sector
Financials
Size
Micro Cap
Market Cap £26.2m
Enterprise Value £25.5m
Revenue £744k
Position in Universe th / 1805

Ventus 2 VCT PLC Ventus 2 VCT PLC C Ventus 2 VCT PLC D - Refinancing of investee company

Mon 1st July, 2019 1:40pm
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 £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

 

 


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