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When we last wrote about BioPharma Credit, in October, we said it was “by all accounts extremely choosy about who it lends money to”. Now, six months later, it has finally found another borrower.
As we have come to expect from this trust, it has managed to combine charging a high rate of interest (8pc) with a high degree of confidence that the borrower will be able to pay the interest due and, in time, the principal.
The latest borrower is LumiraDx, a private British company that makes diagnostic tests that can be carried out “on the spot” as opposed to in a laboratory elsewhere (its testing equipment is approved for the detection of Covid-19 antibodies among other things).
Notes to Editors About Gore Street Energy Storage Fund plc Gore Street is London s first listed energy storage fund and seeks to provide Shareholders with a significant opportunity to invest in a diversified portfolio of utility scale energy storage projects. In addition to growth through exploiting its considerable pipeline, the Company aims to deliver consistent and robust dividend yield as income distributions to its Shareholders. The Company targets an annual dividend of 7.0% of NAV per Ordinary Share in each financial year, subject to a minimum target of 7.0 pence per Ordinary Share. Dividends are paid quarterly.
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