Intermediate Capital Share Discussion Threads

[rcturner2] 06/3/2012 10:46

Barlick - sooner than you think I suspect.

[barlick] 16/2/2012 17:32

RCTurner2

'I bailed at £3. I can see this going back down again with the general market. Rebuy when the FTSE hits 5000.'

Might be some time as the market does not appear to want to go down.

[rcturner2] 16/2/2012 09:30

I bailed at £3. I can see this going back down again with the general market. Rebuy when the FTSE hits 5000.

[barlick] 03/2/2012 17:31

davebowler

Go on say £6!!

[davebowler] 03/2/2012 14:36

Well its reached £3 - quicker than I thought so I'll simply say, next stop £3.50, and see if that also happens.

[barlick] 01/2/2012 17:08

Very resilient today. Obviously the sentiment is good. Onwards & upwards?

[rcturner2] 01/2/2012 15:39

Glad to see that the value here is finally being recognised.

[davebowler] 26/1/2012 14:51

Next stop £3.

[18bt] 18/1/2012 18:05

And another 10.7p to NAV per share to add to the 342p/share they reported at the interim stage. So they still stand on a 25% discount to NAV - too high.

[hieronymous1] 18/1/2012 14:31

It is more capital to lend on to companies starved of funds by the banking crisis. Logically the company thinks the ROC on lending is higher than on the IP business or it would not have sold.

[seekerofvalue] 18/1/2012 14:26

That is indeed a significant capital gain. Does the deal further underscore the company and an investment in ICG7 or weaken it?

[v11slr] 18/1/2012 14:12

here you go :-
Wednesday 18 January 2012


Intermediate Capital Group plc announces a significant capital gain

Intermediate Capital Group plc ("ICG") announces the sale of its stake in CPA Global. The transaction is subject to the approval of a Scheme of Arrangement in Jersey and regulatory clearances, and is expected to close by the end of the first quarter of 2012.


The transaction will generate total proceeds of £387 million for ICG plc and the funds advised by ICG. Upon completion ICG plc will receive total cash proceeds of approximately £113 million. The transaction will result in an additional £43 million capital gain for ICG plc, which will be booked in the second half of the current financial year.

[v11slr] 18/1/2012 11:38

Not really to do with yesterday's update, this rise is because of this :-

[18bt] 18/1/2012 11:26

Good follow through to yesterday's update

[davebowler] 18/1/2012 09:06

O.K.,O.K.!

[18bt] 17/1/2012 10:37

Cracking update. Nervousness wills persist, but thE lack of capital in the European banking system is creating huge and highly profitable opportunities. I see massively more upside than downside on a 12 month view

[18bt] 17/1/2012 10:37

Cracking update. Nervousness wills persist, but thE lack of capital in the European banking system is creating huge and highly profitable opportunities. I see massively more upside than downside on a 12 month view

[davebowler] 17/1/2012 08:35

Interim Management Statement
for the three months to 31 DECEMBER 2011

Intermediate Capital Group plc (ICG) releases its Interim Management Statement for the three months to 30 December 2011

Fund Management Company
Assets under management remained stable over the period, at €12 billion.

Mezzanine Funds
Our mezzanine portfolio continues to perform well.
The last quarter of 2011 saw a very low level of activity in the European private equity industry due to the uncertain economic outlook and, above all, to the absence of senior debt financing. We are seeing evidence that European banks are further retrenching from LBO financing. As a result, private equity sponsors are now focussing on the refinancing risk of their portfolio companies and we have seen a material pick up in the pipeline of potential new investments in capital restructurings of solid companies.

In addition, there is an uptick in the number of ICG-sponsored pipeline opportunities in Europe and Asia Pacific. Our Asia Pacific 2008 Fund supported Ventura Motors, a leading urban buses operator in the Melbourne area, in its acquisition of Grenda Motors in the quarter and is now 45% invested. This is our first ICG-sponsored transaction in Australia.

We continue to market our European Fund V and are making progress towards a next closing.

Credit Funds
Our loan and High Yield bonds portfolios are also performing well.

We have experienced no defaults during the quarter and our loan funds continue to deliver a strong performance. In the period we have won another segregated mandate to manage a €100 million portfolio of senior loans on behalf of a European institution.

Investment Company
Repayments and capital gains
The Investment Company (IC)'s portfolio performance remains solid.

No additional exits occurred over the period but a number of processes remain on track for completion in the period. Repayment of principal for the first nine months of the year totalled £307 million. In addition, we crystallised £84 million of rolled up interest.

New Investments
New investments for the IC totalled £34 million during the period, primarily in the Ventura transaction, bringing new investments for the first nine months of the year to £111 million.

Balance Sheet
We raised £35 million in December through a Retail Bond, further diversifying our funding sources. The balance sheet remains strong with unutilised bank lines of £724 million at 31 December 2011.

[barlick] 08/1/2012 15:18

Looks like I am back in here again. I think the current share price is easily sustained & an 8% yield cannot be ignored.

See you soon - Barlick

[rcturner2] 14/12/2011 16:09

If this goes below 200p, then I will be buying.

[hieronymous1] 12/12/2011 15:03

FSA crackdown on understated property risks


Banks will have to cut their property lending or increase their interest rates. More customers for the Longbow subsidiary.

[davebowler] 09/12/2011 14:52

Research article on its new bond issue;

[blippy2] 07/12/2011 09:25

From UK-Analyst.com: Tuesday 6th December 2011

Shore Capital reiterated its "buy" recommendation following rumours that it is looking to sell its patent management subsidiary CPA Global. The target price of 700 million pounds represents a significant return on the estimated value of around 400 million pounds at the time of acquisition two years ago. Additionally, Shore calculates that the market values the company's portfolio of equity and debt investments below its book value, which it believes is overly pessimistic.

[davebowler] 02/12/2011 16:20

New issue of 7% unsecured Bonds by ICP