US Solar Fund confirms $19m tender offer and eyes US private debt markets for refinancing

Slashes dividend target

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...