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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sqn Asset Finance Income Fund Limited | LSE:SQN | London | Ordinary Share | GG00BN56JF17 | 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% | 25.50 | 25.50 | 28.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMKKVL
RNS Number : 0267I
KKV Secured Loan Fund Limited
09 August 2021
9 August 2021
KKV Secured Loan Fund Limited
(the "Company")
LEI: 2138007S3YRY3IUU4W39
Update on Assets
The Board of the Company is pleased to announce that a package of loans secured against shipping vessels to a single borrower, which were underwritten by the Company have been refinanced with another provider. The loans have been refinanced for consideration of US$35.00m. As the loans were held within both the Ordinary and C Share class portfolio, US$16.61m and US$18.39m will be allocated to the Ordinary and C Share class portfolio respectively.
As at 31 December 2020, the loans had a total carrying value of GBP19.09m (US$26.22m(1) ), or GBP8.94m (US$12.28m(1) ) and GBP10.15m (US$13.94m(1) ) respectively across the Ordinary and C Share Class Portfolio. The loans were marked as Borrower 8 within the Ordinary Share Class Portfolio and Borrower 47, 48 and 51 within C Share Class Portfolio in the December 2020 Half-Yearly Report and Accounts. The higher consideration received compared to the carrying value reflects the improved underlying value of the shipping vessels during the intervening period.
The Directors intend to convene a board meeting in the near future to consider a further return of capital.
(1.) For consistency the same exchange rate, GBP:USD 1.37, was used as within the December 2020 Half-Yearly Report and Accounts.
The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulation (Regulation 596/2014/EU), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
For further information please contact:
KKV Secured Loan Fund Limited Brett Miller via the Company Secretary KKV Investment Management Ltd Investor.communications@kkvim.com Catherine Halford Riera BNP Paribas Securities Services S.C.A., Guernsey Branch Company Secretary 01481 750 853 Winterflood Securities Limited Neil Langford Chris Mills 020 3100 0000
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END
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(END) Dow Jones Newswires
August 09, 2021 07:04 ET (11:04 GMT)
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