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Share Price: 326.40

Bid: 274.00

Ask: 329.00

Change: 0.00 (0.00%)

Spread: 55.00 (20.073%)

Open: 0.00

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Prev. Close: 326.40

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NextEnergy Solar leverage levels in line with company policy

Tue, 16th Apr 2024 09:32

(Alliance News) - NextEnergy Solar Fund Ltd on Tuesday announced it had refinanced an existing short-term revolving credit facility.

The London-based renewable energy investment company refinanced a GBP135 million credit facility which was originally due to expire in June. The agreement with AIB Group PLC and NatWest Group PLC, plus new lender, Lloyds Banking Group PLC, will now be available until June 2026, giving NextEnergy Solar the flexibility to pursue investments and make repayments.

In addition, NextEnergy Solar said it is on track to exercise its option to extend a GBP70 million credit facility with Banco Santander SA for an additional 12 months until June 2025.

NextEnergy Solar adheres to a gearing policy limit of up to 50% of its gross asset value, it noted.

As at December 31, NextEnergy Solar had drawn GBP163 million from its available GBP205 million in credit facilities. Gearing was at 46%.

NextEnergy Solar shares were up 0.6% to 72.05 pence each in London on Tuesday morning.

By Elijah Dale, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

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LONDON MARKET MIDDAY: FTSE 100 hurt by "mixed bag" of PMI data

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15 Dec 2023 09:58

TOP NEWS: NatWest's Farage review finds no evidence of discrimination

(Alliance News) - NatWest Group PLC on Friday said a review into account closures at private bank Coutts, most notably involving former Ukip leader Nigel Farage, found no evidence of discrimination due to political view or affiliations.

15 Dec 2023 09:52

NatWest review finds no evidence of political discrimination

(Sharecast News) - An external review has found no evidence of political discrimination in the closure of customer accounts at NatWest's Coutts arm, the bank said on Friday.

12 Dec 2023 09:10

UK lenders face smaller impact from Basel rules than rivals, BoE says

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, far less than for their European Union and U.S. peers.

12 Dec 2023 07:16

BoE says UK lenders to be hit less than EU, U.S. rivals by Basel capital rules

LONDON, Dec 12 (Reuters) - The Bank of England said on Tuesday that implementing the final leg of the global Basel bank rules will increase capital requirements at UK banks by 3%, less than for their European Union and U.S. peers.

30 Nov 2023 17:06

LONDON MARKET CLOSE: Stocks react mixed to cooling euro, US inflation

(Alliance News) - The FTSE 100 in London closed up on Thursday, but share prices were firmly down in the FTSE 250, while European equities were buoyed by cooling inflation in the eurozone.

30 Nov 2023 15:16

London close: Stocks mixed after US, Europe inflation data

(Sharecast News) - London's markets finished with a mixed performance on Thursday, with the top-flight index lifted by the likes of BP and Shell.

30 Nov 2023 12:06

LONDON MARKET MIDDAY: Cooler inflation readings support equities

(Alliance News) - Stocks prices in Europe were on the up on Thursday afternoon, tamer inflation data took some shine off the euro and Crude prices climbed ahead of a meeting of oil producers.

30 Nov 2023 09:57

LONDON BROKER RATINGS: Citi and Peel up B&M; JPMorgan cuts 888

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

30 Nov 2023 09:57

Lloyds to shut 45 branches

(Sharecast News) - Lloyds Banking Group is to shut another 45 branches, it was confirmed on Thursday, as lenders continue to downsize their estates.

30 Nov 2023 09:18

Lloyds, Halifax and Bank of Scotland to shut another 45 branches

(Alliance News) - Lloyds Banking Group PLC is shutting another 45 branches across its network and the Halifax and Bank of Scotland brands amid the ongoing shift away from high street banking.

30 Nov 2023 09:09

JPMorgan upgrades NatWest, adds to 'top picks' list

(Sharecast News) - JPMorgan Cazenove upgraded NatWest on Thursday to 'overweight' from 'neutral' and lifted the price target to 280p from 230p as it took a look at European banks.

28 Nov 2023 09:27

LONDON BROKER RATINGS: Goldman starts M&G at 'buy'; Citi hikes B&M

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

22 Nov 2023 16:54

LONDON MARKET CLOSE: Shares mixed on Autumn statement; pubs get boost

(Alliance News) - Stock prices in London closed mixed on Wednesday, following the UK'S Autumn statement, which had no big surprises for investors.

22 Nov 2023 16:19

IN BRIEF: Martin Currie Global agrees new three GBP10 million facility

Martin Currie Global Portfolio Trust PLC - Edinburgh-based investor in sustainable listed growth companies - Enters into unsecured three-year GBP10 million sterling term revolving loan facility agreement with Royal Bank Scotland of International Ltd. Says the facility has a variable interest rate, calculated at a rate of 1.55% over the sterling overnight index average. Says its existing GBP30 million loan with RBSI will mature on Thursday and be repaid in full. Agrees to draw down the full amount available under the new GBP10 million facility on the same day and for an initial period of six months. This will reduce its to GBP10 million from GBP30 million, while the new loan will represent approximately 4.1% of the net assets of the company.

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