US Solar Fund (USF) has confirmed its intention to undertake a fixed price tender offer, returning up to $19m of shareholder capital.
According to a regulatory filing, the offer will allow shareholders to tend some or all of their shares at a price of $0.764 per share, equivalent to 31 December 2023's $0.78 NAV per share, less 2% administrative costs. US Solar Fund eyes share buybacks as NAV falls 20% over 2023 The terms of the proposed tender offer will be issued in a circular next week, which will be followed by a special resolution at a general meeting on 21 May 2024, coinciding with the trust's AGM. Following an exercise exploring potential methods to refinance the vehicle's senior debt facilities in order t...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
