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Guernsey investment company to target environmental projects

11 April 2014

John Laing Environmental Assets Group Limited (JLEN) has listed on the Main Market of the London Stock Exchange (LSE).

The Guernsey closed-ended investment company is to invest in environmental infrastructure projects that have the benefit of long-term, predictable, wholly or partially inflation-linked cash flows supported by long-term contracts or stable regulatory frameworks

Leading offshore law firm Mourant Ozannes advised John Laing Environmental Assets Group Limited (JLEN) on all Guernsey-related aspects of its listing to raise gross proceeds of £160 million in its placing and initial public offering of ordinary shares. 

The proceeds of the issue will be used to acquire the initial portfolio which considts of investment interests in one solar project, three onshore wind farm projects, two waste processing projects and one wastewater treatment project.

The Mourant Ozannes Guernsey corporate team comprised Partner Darren Bacon, and Senior Associate Richard Holden. 

Mr Bacon said: "This is another successful fund launch for Guernsey in the alternative assets space and Mourant Ozannes has been delighted to advise JLEN on all aspects of Guernsey law relating to the deal."

Mourant Ozannes worked with lead London law firm Hogan Lovells International LLP to complete the deal.  Norton Rose Fulbright LLP advised both Barclays Bank plc (Sole Global Co-ordinator, Sponsor and Bookrunner) and Winterflood Securities Limited (Co-Lead Manager).

In addition to Mourant Ozannes involvement, the Guernsey offices of Praxis Fund Services, Capita Registrars, Deloitte and RBS International are the fund's administrator, registrar, auditor and principal bankers respectively.

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