QuotedData’s other news 3 December 2019

In QuotedData’s other news 3 December 2019 –

  • BlackRock Smaller Companies (BRSC) has agreed to issue £20m in senior unsecured GBP denominated fixed rate private placement notes at an annualised coupon of 2.41% with a 25-year bullet maturity. The funding date for the Notes is today, 3rd December 2019 and the notes will be due for repayment on 3rd December 2044. The net proceeds from the issuance will be used to repay existing indebtedness and for general corporate purposes.
  • Fidelity Asia Values issued 3,081,455 shares at 392.75p in connection with the exercise of its subscription shares. 8,021,575 shares remain unexercised and an independent trustee will decide what happens to them. the share price and the subscription share price are very close to each other (although the shares are trading at a discount to NAV).
  • NewRiver REIT (NRR) announced the acquisition of community pub company Bravo Inns for £17.9m, representing an EBITDA multiple of 6.8x. The transaction is expected to generate annualised outlet EBITDA of £2.6m, equating to a yield on cost of 14%, which excludes £0.3 million of synergies expected to be realised through the transfer of Bravo Inns to the Hawthorn Leisure platform.
  • The multi-asset emerging markets company, Qannas Investments (QIL) has called and EGM for 18 December 2019.
    • On 3 September 2019, QIL announced that it had conditionally agreed to acquire a substantial portfolio of investment assets and associated liabilities from a consortium of third party vendors;
    • On 29 November 2019, QIL announced that it proposed to cancel the admission of the shares to trading on AIM and that it would not seek re-admission to AIM following completion of the transaction.

Elsewhere, Hipgnosis Songs has signed up Fraser T. Smith and Starwood European Real Estate Finance made an investment in Spain.

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