Blackstone/GSO Loan Financing Ltd Migration of listing (3424J)

TIDMBGLF

RNS Number : 3424J

Blackstone/GSO Loan Financing Ltd

28 June 2017

Blackstone / GSO Loan Financing Limited

("BGLF" or the "Company")

28 June 2017

Migration to the Premium Segment of the Main Market of the London Stock Exchange and listing on the Official List of the UK Listing Authority

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS OR INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.

Background

BGLF's investment objective is to provide shareholders with stable and growing income returns and to grow the capital value of the investment portfolio by exposure predominantly to floating rate senior secured loans directly and indirectly through collateralized loan obligation securities and investments in loan warehouses. The Company achieves its investment objective through its exposure to Blackstone / GSO Corporate Funding. The Company is currently admitted to trading on the Specialist Fund Segment of the London Stock Exchange. Pursuant to the Company's investment policy, the Company will not invest more than 10% of its total assets in other UK-listed closed-ended investment funds.

BGLF is pleased to announce it has received confirmation from the UK Listing Authority that it is eligible for a premium listing on the Official List.

Accordingly, the Company has made applications to the UK Listing Authority and the London Stock Exchange for listing on the Official List and a transfer to trading from the Specialist Fund Segment to the Premium Segment of the Main Market of the London Stock Exchange in respect of 404,700,446 ordinary shares of no par value (the "Migration").

The Premium Segment of the Main Market is an established market which is accessible to a wide range of investors. Accordingly, the Migration is anticipated to result in a broader investor base over the longer term, which the Directors believe may enhance the liquidity of its shares in the secondary market.

Since IPO, the Company has voluntarily complied with the Listing Rules. However, as a Company whose shares are admitted to the premium listing segment of the Official List, the Company will now be required formally to comply with the Listing Rules, in particular Chapter 15 of the Listing Rules for closed-ended investment funds.

In addition, the Board has taken steps to facilitate the Company's eligibility for inclusion in the FTSE UK Index Series (the "Index") which, it is expected, should help raise the Company's profile in the market. In particular, the Company has applied to introduce an additional market quote for the shares on the London Stock Exchange denominated in Sterling which would satisfy one of the criteria for inclusion in the Index (the "Sterling Quote"). The Sterling Quote will appear alongside the Company's existing Euro market quote (the "Euro Quote") and there will be no changes to the legal form or nature of the Company's shares nor to the reporting currency of the Company's financial statements (which will remain in Euros). For the avoidance of doubt, shares traded under either quote will have the same currency exposure, namely Euros.

The Company's existing ticker, ISIN and SEDOL will remain unchanged. However, in connection with the Sterling Quote the Company will introduce a new ticker and SEDOL with effect from Admission, as set out below.

 
          Euro Quote     Sterling Quote 
-------  -------------  --------------- 
 ISIN     JE00BNCB5T53   JE00BNCB5T53 
-------  -------------  --------------- 
 SEDOL    BNCB5T5        BYXL0Y1 
-------  -------------  --------------- 
 Ticker   BGLF           BGLP 
-------  -------------  --------------- 
 

All dividends will continue to be declared and paid in Euros. Admission is expected to occur with effect from 8am on 29 June 2017.

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 Contacts: 
 BNP Paribas 
  Siobhan Lavery        01534 709 181 
 
 Fidante Capital 
  Katie Standley        020 7832 0900 
 N+1 Singer Advisory 
  LLP 
  Gillian Martin        020 7496 300 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 28, 2017 02:00 ET (06:00 GMT)