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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% | 22.50 | 21.40 | 23.80 | 18,304 | 08:00:10 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 7.27M | 1.96M | 0.0162 | 13.89 | 27.29M |
TIDMLBOW
RNS Number : 9188R
ICG-Longbow Snr Sec UK Prop DebtInv
03 July 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.
3 July 2020
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Portfolio Update
The Company has completed a GBP2.95 million increase and extension to its Carrara loan facility, whilst receiving a GBP4.35 million part repayment on the BMO Partners loan.
Following the restructure, the Carrara loan balance increased to GBP4.25 million, with additional security taken over the now combined freehold and leasehold interests in the recently refurbished and fully let office property security. The loan carries an LTV ratio of 73.3%, and provides an attractive risk-adjusted return to the Company and shareholders.
Separately, the Company has received a GBP4.35 million partial repayment of the BMO Partners facility, following a refinancing of part of the security portfolio by a third-party lender. As a result of the repayment, the LTV on the remaining GBP11.4 million loan falls to 48.7% and the Sponsor is continuing to progress a refinancing of the remainder of the portfolio.
As of 2 July 2020, following the above transactions, the Group has cash of approximately GBP13.7 million and undrawn credit facilities of GBP25 million.
The Investment Adviser continues to see a rise in attractive new lending opportunities and has two new investments in solicitors' hands totalling circa GBP24 million. The Company expects to complete on these investments over the next four to six weeks.
For further information, please contact:
Ocorian Administration (Guernsey) Limited Louise Manklow +44 (0)14 8174 2742 Cenkos Securities: Will Rogers +44 (0)20 7397 1920 Maitland Consultancy Limited: Vikki Kosmalska +44 (0)20 7379 5151 ICG Real Estate 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 .
ICG Longbow LEI: 2138008BKBH3OP2CA764
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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July 03, 2020 02:00 ET (06:00 GMT)
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