We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.20 | -0.88% | 22.60 | 21.40 | 23.80 | 13,100 | 16:35:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 7.27M | 1.96M | 0.0162 | 14.07 | 27.66M |
TIDMLBOW
RNS Number : 8172T
ICG-Longbow Snr Sec UK Prop DebtInv
23 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.
23 July 2020
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Portfolio Update
The Company has provided a new GBP16.9 million loan facility to a vehicle managed by GMG Real Estate, in support of its purchase of an office property in St James's leased to a UK Government agency. The Company is participating in a larger GBP22.3 million facility alongside another fund managed by the Investment Adviser, on a fully pari passu basis in line with the Company's investment criteria.
The day 1 drawing on the loan is GBP12.8 million, representing an initial LTV ratio of 70.0%, and the facility includes a capital expenditure commitment in support of the sponsor's business plan to refurbish the property during the loan term. In addition to an attractive coupon, the facility is structured with contractual arrangement and exit fees and is accretive to shareholders.
As a result of the new investment and recent portfolio changes, as at 23 July the Company has total committed facilities of GBP130.2 million, of which GBP119.7 million has been drawn. In support of these new investment commitments the Company has drawn down GBP4.4 million on its revolving credit facility.
The Company is currently documenting a new GBP7.8m loan secured by an industrial investment, which it expects to complete in the coming 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
PFUFLFLTDLIFFII
(END) Dow Jones Newswires
July 23, 2020 02:00 ET (06:00 GMT)
1 Year Icg-longbow Senior Secur... Chart |
1 Month Icg-longbow Senior Secur... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions