ICG-Longbow Snr Sec UK Prop DebtInv Portfolio Update (5554N)

TIDMLBOW

RNS Number : 5554N

ICG-Longbow Snr Sec UK Prop DebtInv

27 October 2016

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

27 October 2016

ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)

Portfolio Update

The borrower under the Group's(1) RAEES International loan has completed a refinancing of the properties which provided security for the Group's loan. As a result, the GBP13.25 million loan has been repaid in full, together with interest, exit and prepayment fees of approximately GBP1.8m in aggregate. The proceeds of this repayment will be received by the Company shortly.

The Investment Manager has an encouraging pipeline of potential transactions in which the Group could reinvest these proceeds, and will seek to do so in the manner most accretive to shareholders.

For further information, please contact:

 
 Heritage International Fund 
  Managers Limited: 
 Mark Huntley                         [phone] 
  James Christie                       6000 
 
 Cenkos Securities plc 
  Will Rogers                            [phone] 
                                         1920 
 
 
   Maitland Consultancy Limited: 
 Rebecca Mitchell                        [phone] 
  Seda Ambartsumian                       5151 
 
 

Further information on the Company can be found on its website at http://www.lbow.co.uk.

(1) Group refers to the two companies within the group structure, ICG-Longbow Senior Secured UK Property Debt Investments Limited and ICG Longbow Senior Debt SA.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 27, 2016 02:01 ET (06:01 GMT)