JLEN Environmental Assets Group Ltd Extension of Revolving Credit Facility (0085V)
03 April 2023 - 4:00PM
UK Regulatory
TIDMJLEN
RNS Number : 0085V
JLEN Environmental Assets Group Ltd
03 April 2023
3 April 2023
JLEN Environmental Assets Group Limited
Extension of Revolving Credit Facility
The Board of JLEN Environmental Assets Group Limited ("JLEN" or
the "Company"), is pleased to announce that it has signed a
one-year extension to its existing GBP170 million Revolving Credit
Facility ("RCF") and has activated its GBP30 million accordion
facility, allowing the Company to pursue its pipeline of attractive
environmental infrastructure opportunities.
The extended facility will reach maturity in May 2025 and the
interest charged continues to be linked to the Company's ESG
performance with the margins ranging between 195bps and 205bps over
SONIA ('Sterling Overnight Index Average') for Sterling and Euro
borrowings.
Lenders to the facility include four of the five existing
lenders (HSBC, ING, National Australia Bank, Royal Bank of
Scotland) plus one new lender (Clydesdale Bank).
Ed Warner, Chair of JLEN commented : "We are delighted with the
extension of the RCF under existing terms despite the challenging
credit environment. This is a testament to the strength of our
investment strategy, and the loan facility enables us to continue
to develop our investment pipeline of diversified environmental
infrastructure assets."
For further information please contact:
Foresight Group
Chris Tann er
Chris Holmes
Ed Mountney +44(0)20 7901 3559
Winterflood Securities Limited
Neil Langford +44(0)20 3100 0000
SEC Newgate +44 (0)20 3757 6882
Elisabeth Cowell Jlen@secnewgate.co.uk
Alice Cho
Harry Handyside
Sanne Fund Services (Guernsey)
Limited
Matt Falla
Gemma Berry +44(0)1481 755530
About JLEN
JLEN's investment policy is to invest in a diversified portfolio
of Environmental Infrastructure. Environmental Infrastructure is
defined by the Company as infrastructure assets, projects and
asset-backed businesses that utilise natural or waste resources or
support more environmentally friendly approaches to economic
activity, support the transition to a low carbon economy or which
mitigate the effects of climate change. Such investments will
typically feature one or more of the following characteristics:
-- long-term, predictable cash flows, which may be wholly or
partially inflation-linked cash flows;
-- long-term contracts or stable and well-proven regulatory and
legal frameworks; or
-- well-established technologies, and demonstrable operational
performance
JLEN's aim is to provide investors with a sustainable,
progressive dividend per share, paid quarterly and to preserve the
capital value of the portfolio over the long term on a real basis.
The target dividend for the year to 31 March 2023 is 7.14 pence per
share (1) . The dividend is payable quarterly.
JLEN is an Article 9 fund under the EU Sustainable Finance
Disclosure Regulation and has a transparent and award winning
approach to ESG.
Further details of the Company can be found on its website www.jlen.com
LEI: 213800JWJN54TFBMBI68
(1) These are targets only and not profit forecasts. There can
be no assurance that these targets will be met or that the Company
will make any distributions at all.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCKZGFFDMLGFZM
(END) Dow Jones Newswires
April 03, 2023 02:00 ET (06:00 GMT)
Jlen Environmental Assets (LSE:JLEN)
Historical Stock Chart
From Apr 2024 to May 2024
Jlen Environmental Assets (LSE:JLEN)
Historical Stock Chart
From May 2023 to May 2024