8th Jun 2016 08:00
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd on Wednesday said it wants approval from shareholders to enable it to take on long-term structural debt at the holding company level.
The move requires approval from shareholders as it constitutes an amendment to Bluefield Solar Income's investment policy, which currently allows the company only to use short-term debt at the holding company level. A vote has been called for July 1.
"Shareholders should note that the proposed amendment will not increase the overall limit on borrowings set out in the existing investment policy and in all cases the combined short term and long term leverage will not exceed 50% of the company's Gross Asset Value at the time of drawdown," Bluefield Solar Income said in a statement.
Shares in the Guernsey-registered investment company, which focuses on large scale agricultural and industrial solar assets, were down 0.6% at 102.50 pence Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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