JZ Capital Ptnrs Ltd Convertible Unsecured Loan Stock Interest Payment

 
TIDMJZCP TIDMJZCC TIDMJZCN 
 
JZ CAPITAL PARTNERS LIMITED 
(a closed-end collective investment scheme incorporated with limited liability 
           under the laws of Guernsey with registered number 48761) 
                           LEI: 549300TZCK08Q16HHU44 
 
               Convertible Unsecured Loan Stock Interest Payment 
 
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET 
ABUSE REGULATION (EU) NO. 596/2014 ("MAR"). 
 
 
25 September 2020 
 
Further to the announcement on 17 September 2020, JZ Capital Partners Limited 
("JZCP" or the "Company"), the London listed fund that invests in US and 
European micro-cap companies and US real estate, today announces that it has 
received consent from Guggenheim Partners to make the upcoming interest payment 
due on 30 September 2020 to the holders of its Convertible Unsecured Loan Stock 
due 2021 ("CULS"). The Company had announced previously that it expected it 
would breach its minimum asset coverage ratio under its senior facility with 
Guggenheim Partners by the end of September 2020, which absent a waiver or 
consent being obtained, would have prohibited the Company from making the 
interest payment falling due on the CULS on 30 September. 
 
The consent remains subject to a limited number of customary conditions 
precedent, including no events of default occurring under the CULS or its 
senior facility (save for a breach of the minimum asset coverage ratio), which 
the Company expects to satisfy prior to the interest payment date on 30 
September and therefore the Company expects to make the CULS interest payment 
in full on 30 September 2020. 
 
Otherwise, whilst the Company still expects to breach its minimum asset 
coverage ratio under its senior facility with Guggenheim Partners at the end of 
September, the Company and its lenders remain in ongoing discussions to procure 
a waiver of this breach and make certain further amendments to the Company's 
current lending arrangements with its lenders. The abovementioned consent in 
respect of the CULS interest payment falling due on 30 September requires the 
Company to have entered into an amendment to its senior facility by 7 October 
2020; the failure to do so would constitute an event of default under the 
facility. The Company currently expects that it will have reached agreement 
with its lenders as to the amended terms of the facility within that timeframe. 
For the avoidance of doubt, any event of default under the senior facility that 
is continuing on any subsequent interest payment date under the CULS would 
prohibit the Company from making future interest payments to the holders of the 
CULS, absent a waiver, a further consent or the amended terms of the facility 
being agreed by such date and thereby allowing for such payments to be made. 
 
The Company will make further announcements as required in relation to the 
status of discussions with its lenders as matters progress. 
 
 
Market Abuse Regulation: 
 
The information contained within this announcement is inside information as 
stipulated under MAR. Upon the publication of this announcement, this inside 
information is now considered to be in the public domain. The person 
responsible for arranging for the release of this announcement on behalf of 
JZCP is David Macfarlane, Chairman of JZCP. 
 
For further information: 
 
Ed Berry                                                       [phone] 
FTI Consulting                                                 1046 
 
David Zalaznick                                                +1 (212) 485 
Jordan/Zalaznick Advisers, Inc.                                9410 
 
Sam Walden                                                     +44 (0)1481 
Northern Trust International Fund Administration Services      745385 
(Guernsey) Limited 
 
Important Notice 
 
This announcement includes statements that are, or may be deemed to be, 
"forward-looking statements". These forward-looking statements can be 
identified by the use of forward-looking terminology, including the terms 
"believes", "estimates", "anticipates", "expects", "intends", "may", "will" or 
"should" or, in each case, their negative or other variations or comparable 
terminology. These forward-looking statements relate to matters that are not 
historical facts. By their nature, forward-looking statements involve risks and 
uncertainties because they relate to events and depend on circumstances that 
may or may not occur in the future. Forward-looking statements are not 
guarantees of future performance. The Company's actual investment performance, 
results of operations, financial condition, liquidity, policies and the 
development of its strategies may differ materially from the impression created 
by the forward-looking statements contained in this announcement. In addition, 
even if the investment performance, result of operations, financial condition, 
liquidity and policies of the Company and development of its strategies, are 
consistent with the forward-looking statements contained in this announcement, 
those results or developments may not be indicative of results or developments 
in subsequent periods. These forward-looking statements speak only as at the 
date of this announcement. Subject to their legal and regulatory obligations, 
each of the Company, the Investment Adviser and their respective affiliates 
expressly disclaims any obligations to update, review or revise any 
forward-looking statement contained herein whether to reflect any change in 
expectations with regard thereto or any change in events, conditions or 
circumstances on which any statement is based or as a result of new 
information, future developments or otherwise. 
 
 
 
END 
 

(END) Dow Jones Newswires

September 25, 2020 02:00 ET (06:00 GMT)