SDCL Energy Efficiency Income Trust has plans to raise £100 million ($116 million) through an issue of new ordinary shares in the capital of the company.
The price is expected to be in the range of £1.13 to £1.17 ($1.31 to $1.36) per new ordinary share.
Jefferies International will commence a book-building process to determine the level of demand from potential investors for participation in the placing.
SDCL said following the expected completion of its recent £100 million ($116 million) acquisition of United Utilities Renewable Energy (UU Solar), as well as £80 million ($93 million) of commitments to eight different organic follow-on opportunities, the company will have committed all of its available cash and substantially committed its £145 million ($168 million) revolving credit facility.
The company has a strong pipeline of potential investment opportunities beyond its committed capital, totaling more than £400 million ($465 million), which in