SDCL Energy Efficiency Income Tst SEEIT secures GBP145m revolving credit facility (3028K)
September 01 2021 - 1:00AM
UK Regulatory
TIDMSEIT
RNS Number : 3028K
SDCL Energy Efficiency Income Tst
01 September 2021
1 September 2021
SDCL Energy Efficiency Income Trust plc
("SEEIT" or the "Company")
SEEIT secures GBP145 million revolving credit facility
SDCL Energy Efficiency Income Trust plc is pleased to announce
that the Company has recently successfully extended and increased
its revolving credit facility ("RCF") to GBP145 million. The RCF is
used by the Company for short-term financing of acquisitions.
Three new banks have been added to the RCF alongside the
existing lender, Investec Bank plc, being ING, Intesa Sanpaolo and
HSBC Bank plc.
The RCF is held by the Company's single subsidiary, SEEIT Holdco
Limited, as the borrower and the Company is a guarantor. The new
expiry date is 30 June 2024. The RCF also includes an uncommitted
accordion of a further GBP55 million.
For Further Information
Sustainable Development Capital T: +44 (0) 20 7287 7700
LLP
Jonathan Maxwell
Eugene Kinghorn
Purvi Sapre
Keith Driver
Jefferies International Limited T: +44 (0) 20 7029 8000
Tom Yeadon
Gaudi Le Roux
Neil Winward
TB Cardew T: +44 (0) 20 7930 0777
Ed Orlebar M: +44 (0) 7738 724 630
Joe McGregor E: SEEIT@tbcardew.com
About SEEIT
SDCL Energy Efficiency Income Trust plc is the first UK listed
company of its kind to invest exclusively in the energy efficiency
sector. Its projects are primarily located in the UK, Europe and
North America and include, inter alia, a portfolio of cogeneration
assets in Spain, a portfolio of commercial and industrial solar and
storage projects in the United States, a regulated gas distribution
network in Sweden and a district energy system providing essential
and efficient utility services on one of the largest business parks
in the United States.
The Company aims to deliver shareholders value through its
investment in a diversified portfolio of energy efficiency projects
which are driven by the opportunity to deliver lower cost, cleaner
and more reliable energy solutions to end users of energy.
The Company is targeting an attractive total return for
shareholders of 7-8 per cent. per annum (net of fees and expenses
and by reference to the initial issue price of GBP1.00 per Ordinary
Share), with a stable dividend income, capital preservation and the
opportunity for capital growth. The Company is targeting a dividend
of 5.62p per share in respect of the financial year to 31 March
2022. SEEIT's last published NAV was 102.5p per share as at 31
March 2021.
Past performance cannot be relied on as a guide to future
performance.
Further information can be found on the Company's website at www.seeitplc.com .
Investment Manager
SEEIT's Investment Manager is Sustainable Development Capital
LLP ("SDCL"), an investment firm established in 2007, with a proven
track record of investment in energy efficiency and decentralised
generation projects in the UK, Continental Europe, North America
and Asia.
SDCL is headquartered in London and also operates worldwide from
offices in New York, Dublin, Madrid, Hong Kong and Singapore. SDCL
is authorised and regulated in the UK by the Financial Conduct
Authority.
Further information can be found at www.sdclgroup.com .
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