11th Jan 2021 14:11
Bluefield Solar Income Fund Ltd - Guernsey-based income fund that invests primarily in solar assets - Acquires Bradenstoke Solar Park Ltd, a 70 megawatts peak ground mounted solar photovoltaic plant on a former RAF airbase in Wiltshire, for GBP89 million in cash. Says the acquisition was financed using the company's revolving credit facility, which has been extended to September 2022 and increased through an accordion mechanism to GBP100 million. Notes the margin on the facility remains at two percentage points above the London interbank offered rate.
"This acquisition is immediately accretive to earnings and further underpins our projected results and dividends for the current financial year ending in June 2021 and beyond. The board and our investment adviser continue to carefully assess a strong pipeline of opportunities across both primary and secondary markets," says Chair John Rennocks.
Current stock price: 133.45 pence
Year-to-date change: up 2.7%
By Zoe Wickens; [email protected]
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