5 Mar 2020 07:00
5 March 2020
SQN Asset Finance Income Fund Limited
Conclusion of a further Anaerobic Digestion ("AD") plant
SQN Asset Finance Income Fund Limited (the "Company"), is pleased to announce the exit of a further AD Plant investment, at the end of February, and at a premium above the initially targeted yield.
The Company received an annualized investment yield of 13.51% against the originally booked figure of 11.16%. This is the fifth AD Plant investment, of the fifteen made by the Company, to be exited at a premium.
This disposition is consistent with the Investment Managers' plan to reduce the Company's exposure to this sector and evidences the ability of well performing assets in this sector to generate yield premiums.
The Company now has ten remaining AD Plant investments, six of which are subject to a review being undertaken by KPMG to assist the Board in determining their current fair value.
Each of the AD Plant investments concluded so far have been either joint ventures or smaller-scale plants. The larger investments made by the Company are still to be realised. The Investment Managers believe that these remaining assets will follow the same eventual pattern of reaching a steady-state of energy production and income and then be subsequently refinanced or sold as the method of exiting the transaction.
For further information please contact:
SQN Capital Management, LLC Jeremiah Silkowski jsilkowski@sqncapital.com Nicola Bird nbird@sqncapital.com Catherine Halford Riera chalford@sqncapital.com
| 01932 575 888 | ||
Winterflood Securities Limited | 020 3100 0000 | ||
Neil Langford Chris Mills |
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| 020 7466 5000 |
Notes to Editor
The Company invests in equipment lease and asset finance arrangements across a diverse portfolio of assets and industries predominantly in the UK, Northern Europe and US. The Company focuses on business-essential, revenue-producing (or cost saving) equipment and other assets with high in-place value and long economic life relative to the investment term.
The Company's Investment Managers are SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission and its subsidiary, SQN Capital Management (UK) Limited.