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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Icg-longbow Senior Secured Uk Property Debt Investments Limited | LSE:LBOW | London | Ordinary Share | GG00B8C23S81 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 22.60 | 21.40 | 23.80 | 0.00 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Finance Services | 7.27M | 1.96M | 0.0162 | 13.95 | 27.41M |
From Apr 2019 to Apr 2024
TIDMLBOW
RNS Number : 0069V
ICG-Longbow Snr Sec UK Prop DebtInv
30 October 2017
30 October 2017
ICG-Longbow Senior Secured UK Property Debt Investments Limited
(the "Company")
Further investment in Quattro Loan
Further to the announcement of the completion of the Quattro Loan on 18 October 2017 and the closing of the placing, announced on 24 October 2017, the Board is pleased to announce that it has exercised its right to acquire the minority participation in the Quattro Loan from Intermediate Capital Group plc for GBP3,008,904, representing the nominal value and an accrual for fees and interest earned in the period since the Quattro Loan was drawn to 30 October 2017, the date of transfer to the Company.
The Quattro Loan, which matures in January 2021, carries an initial LTV ratio of 83.7% and is secured by first ranking charges against a portfolio of three mixed-use properties located in the London Borough of Kingston. In the Company's opinion, as advised by the Investment Adviser, this portfolio provides significant value creation opportunities through implementation and realisation of residential planning permissions. As well as a coupon, the loan contains a profit participation component to allow the Company to share in this expected value growth.
Intermediate Capital Group plc is part of the same group as the Company's investment adviser, Intermediate Capital Managers Limited, and is therefore a related party of the Company under the Listing Rules. This acquisition amounts to a smaller related party transaction under Listing Rule 11.1.10R.
For further information, please contact:
Heritage International Fund Managers Limited: Mark Huntley James Christie +44 (0)14 8171 6000 Cenkos Securities: Will Rogers Alex Collins +44 (0)20 7397 8900 Maitland Consultancy Limited: Rebecca Mitchell +44 (0)20 7379 5151 ICG-Longbow Martin Wheeler +44 (0)20 3201 7502 David Mortimer +44 (0)20 3201 7532
Further information on the Company can be found on its website at http://www.lbow.co.uk.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCOKKDDPBDDOKN
(END) Dow Jones Newswires
October 30, 2017 11:22 ET (15:22 GMT)
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