10th Jul 2025 10:02
(Alliance News) - SDCL Efficiency Income Trust PLC on Thursday said it has agreed a new financing facility that will be used to reduce its drawings on its revolving credit facility by around GBP17 million.
The London-based investment trust focused on energy efficiency and decarbonisation said its investment manager, Sustainable Development Capital LLP, has secured a new senior debt facility for the Zood portfolio of operational assets.
Zood is wholly owned by SEIT and is operated and managed by the Electric Vehicle Network. SEIT owns a 15% minority stake in EVN.
SEIT noted that the new financing does not prevent a full or partial disposal in the future.
The facility provides an initial GBP17.6 million in long-term financing, along with a further uncommitted facility of up to GBP40 million to support Zood's project pipeline.
SEIT said the majority of the initial drawing will be used to reduce its revolving credit facility.
"As we focus on de-leveraging SEIT and crystallising value for its shareholders, the financing at Zood helps to reduce SEIT's short-term revolving credit facility, while providing Zood with financing," said Jonathan Maxwell, chief executive officer of investment manager SDCL.
"The investment manager is targeting disposals and refinancings in the coming months with the objective to continue to reduce the RCF and, ultimately, to return capital to shareholders."
Shares in SDCL Efficiency Income Trust were up 0.6% at 57.05 pence in London on Thursday morning.
By Michael Hennessey, Alliance News reporter
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