TEEC Triple Point Energy Efficiency Infrastructure Company Plc

TIDMTEEC

RNS Number : 4741G

Triple Point Energy Efficiency

30 March 2022

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30 March 2022

Triple Point Energy Efficiency Infrastructure Company plc

("TEEC" or the "Company" or together with its subsidiaries, the "Group")

Revolving Credit Facility

The Board of Directors of Triple Point Energy Efficiency Infrastructure Company plc (ticker: TEEC) is pleased to announce that the Group , via TEEC Holdings Ltd, has entered into a loan facility agreement for a GBP40 million Revolving Credit Facility ("RCF") with TP Leasing Ltd (the "Facility Agreement").

The RCF has a two-year term, with the possibility to be extended. The RCF is priced at the Sterling Overnight Index Average ("SONIA") plus 2.5%, before hedging costs. It is expected that the pricing will be fixed over the two year life of the facility.

The Group will make use of the RCF to fund its growing pipeline of high-quality investment opportunities.

TP Leasing Ltd is an established private credit and asset leasing business which is managed by the Investment Manager and, as a result, is deemed to be a related party as defined in the Listing Rules of the Financial Conduct Authority (the "Listing Rules"). The RCF is deemed to be a "smaller related party transaction" for the purposes of LR11.1.10R. As set out in the Company's prospectus dated 25 August 2020 (the "IPO Prospectus"), the Company has adopted a related party policy pursuant to which, prior to entering into the Facility Agreement, (i) the RCF was approved by the Directors and (ii) the Company obtained a fair and reasonable opinion from a qualified, independent adviser. The Board was satisfied with the conflict management procedures put in place, including team segregation within the Investment Manager and obtaining independent third-party pricing validation.

Commenting on the transaction, John Roberts, the Company's Chair, said:

"I am pleased that TEEC has secured appropriate debt finance on favourable terms. We look forward to updating the market in due course as the Company executes on its pipeline of attractive investment opportunities."

For further information, please contact:

 
 
  Triple Point Investment Management LLP 
 
  Jonathan Parr 
  Jonathan Hick                              020 7201 8989 
Akur Limited (Financial Adviser) 
 
 Tom Frost 
 Anthony Richardson 
 Siobhan Sergeant                          020 7493 3631 
 RBC Capital Markets (Joint Broker) 
 
  Matthew Coakes 
  Jill Li 
  Kathryn Deegan                            020 7653 4000 
 Winterflood Securities (Joint broker) 
 
  Neil Langford 
  Hande Derinkok                            020 3100 0000 
 

LEI: 213800UDP142E67X9X28

Further information on the Company can be found on its website: www.tpenergyefficiency.com .

NOTES:

The Company is a recently incorporated investment trust which invests exclusively in a diversified portfolio of Energy Efficiency assets in the UK, which have a positive environmental impact. The Company's investments will focus on the core sectors of: low carbon heat distribution; social housing retrofit and industrial energy efficiency; and distributed generation.

The Investment Manager is Triple Point Investment Management LLP ("Triple Point") which is authorised and regulated by the Financial Conduct Authority. Triple Point manages private, institutional and public capital, and has a proven track record of investment in Energy Efficiency and decentralised energy projects.

The Company was admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange on 19 October 2020 and was awarded the London Stock Exchange's Green Economy Mark.

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March 30, 2022 02:00 ET (06:00 GMT)

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