Recent Investment Announcement

RNS Number : 1938T

EJF Investments Ltd

16 July 2020

 

FOR IMMEDIATE RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM AND THE REPUBLIC OF IRELAND), AUSTRALIA, CANADA, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.

16 July 2020

EJF Investments Ltd

Recent Investment Announcement

The Board of EJF Investments Ltd (together with its subsidiaries, "EJFI" or the "Company") is pleased to announce that the Company committed to make its ninth risk retention investment in the preferred shares of an upcoming securitisation sponsored by EJF Capital LLC ("EJF").

The securitisation, TruPS Financials Note Securitization 2020-1 ("TFINS 2020-1"), priced on 15 July 2020, and, in connection with the pricing, the Company committed to invest approximately £11.2 million^[1] at closing, which is expected to occur in August 2020, subject to completion of certain customary conditions.

The underlying collateral of TFINS 2020-1 mainly consists of trust preferred securities, subordinated debt and issued surplus notes by 51 U.S. banks and 21 U.S. insurance companies with an aggregate par value of approximately $282.9 million. 

EJF CDO Manager LLC (the "CDO Manager") will serve as the collateral manager for TFINS 2020-1 and will earn a management fee as well as an incentive management fee, subject to certain conditions. The Company will also benefit from the economics generated by the CDO Manager through the Company's 49% ownership interest in the CDO Manager.

ENQUIRIES

For the Investment Manager

EJF Investments Manager LLC

Peter Stage / Hammad Khan / Matt Gill

[e-mail] / [e-mail] / [e-mail]

[phone] / [phone] / [phone]

For the Company Secretary and Administrator

BNP Paribas Securities Services S.C.A Jersey Branch

[e-mail]

[phone] / [phone]

For the Broker

Numis Securities Limited

David Luck

[e-mail]

[phone]

About EJF Investments Ltd

EJFI is a registered closed-ended limited liability company incorporated in Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016 with registered number 122353. The Company is regulated by the Jersey Financial Services Commission (the "JFSC"). The JFSC is protected by both the Collective Investment Funds (Jersey) Law 1988 and the Financial Services (Jersey) Law 1998, as amended, against liability arising from the discharge of its functions under such laws.

The JFSC has not reviewed or approved this announcement.

LEI:  549300XZYEQCLA1ZAT25

Investor information & warnings

The latest available information on the Company can be accessed via its website at www.ejfi.com . 

This communication has been issued by, and is the sole responsibility of, the Company and is for information purposes only. It is not, and is not intended to be an invitation, inducement, offer or solicitation to deal in the shares of the Company. The price and value of shares in the Company and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of shares in the Company. An investment in the Company should be considered only as part of a balanced portfolio of which it should not form a disproportionate part. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.

 

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[1] As converted using foreign exchange rates reported for the date of pricing.

 

END

 

 

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