Share Name Share Symbol Market Type Share ISIN Share Description
John Laing Environmental Assets Group LSE:JLEN London Ordinary Share GG00BJL5FH87 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 108.25p 108.25p 108.50p - - - 0 06:30:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 25.6 9.3 11.6 367.66

John Laing Environmental Assets Grp Extension to Credit Facility

19/06/2017 7:00am

UK Regulatory (RNS & others)


John Laing Environmental (LSE:JLEN)
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TIDMJLEN

RNS Number : 3777I

John Laing Environmental Assets Grp

19 June 2017

19 June 2017

JOHN LAING ENVIRONMENTAL ASSETS GROUP LIMITED

("JLEN" or the "Company")

Extension to Credit Facility

JLEN, the listed environmental infrastructure fund, is pleased to announce that it has signed a new three-year (with an uncommitted option to extend for a further year) facilities agreement which provides for a committed revolving credit facility of GBP130 million and an uncommitted accordion facility of up to GBP60 million with HSBC, NIBC, ING and Santander.

The facility will replace the existing facility and give JLEN an increased source of flexible funding outside of equity raisings at a lower cost. It will be used to make future acquisitions of environmental infrastructure projects to add to its current portfolio of wind, solar, waste and waste water processing assets, as well as covering any working capital requirements.

The facility margin will be 200 to 225 bps (depending on the loan-to-value ratio for the Fund) over LIBOR. Under its Investment Policy, JLEN may borrow up to 30% of its net asset value.

Richard Morse, Chairman, commented:

'This new larger lower cost facility provides the Fund with more capacity to move into its next phase of growth. JLEN is looking forward to continuing the existing relationship that it has with HSBC and NIBC and to developing new long term relationships with ING and Santander'

For further details contact:

   John Laing Capital Management Limited              020 7901 3559 

David Hardy

Chris Tanner

   Winterflood Investment Trusts                               020 3100 0000 

Joe Winkley

Neil Langford

   Redleaf Polhill                                                           020 7382 4769 

Charlie Geller

Harriet Lynch

About JLEN

JLEN's investment policy is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks.

Environmental Infrastructure is defined by the Company as infrastructure projects that utilise natural or waste resources or support more environmentally-friendly approaches to economic activity. This could involve the generation of renewable energy (including solar, wind, hydropower and biomass technologies), the supply and treatment of water, the treatment and processing of waste, and projects that promote energy efficiency.

Further details of the Company can be found on its website www.jlen.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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June 19, 2017 02:00 ET (06:00 GMT)

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