Portfolio Update

RNS Number : 9979O

Fair Oaks Income Limited

14 October 2021

 

14 October 2021

Fair Oaks Income Limited

(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)

 Portfolio Update

Fair Oaks Income Fund Limited (the "Company") is pleased to announce that FOIF II LP (the "Master Fund") has completed the reset of Fair Oaks Loan Funding III a CLO backed by a portfolio of European broadly syndicated, secured loans.

The original purchase of Fair Oaks Loan Funding III (€35 million par value) was priced in September 2020 with a weighted average coupon for the CLO financing of Euribor+2.01%. Fair Oaks Loan Funding III's original investment period was scheduled to end in October 2023.

After the reset, Fair Oaks Loan Funding III will benefit from a weighted average coupon of Euribor+1.79% and an investment period ending in April 2026.

As a result of the reset, the potential total return for this investment, since inception, as estimated by the general partner of the Master Fund (the "General Partner"), will increase by 4.8% per annum and the projected multiple on capital invested will increase from 1.27x to 1.51x (see Note 1).

 LEI: 2138008KETEC1WM5YP90

Enquiries:

Fair Oaks Income Limited

Email: [e-mail]

Web: www.fairoaksincome.com

Fair Oaks Capital Limited

Investor Relations

DDI: [phone]

Email: [e-mail]

Praxis Fund Services Limited

Ben Le Prevost

DDI: [phone]

Email:  [e-mail]

Numis Securities Limited

Nathan Brown, Corporate Broking

DDI: [phone]

Email: [e-mail]

Liberum Capital Limited

Chris Clarke, Investment Banking

DDI: [phone]

Email: [e-mail]

Fair Oaks Income Limited

Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.

The investment policy of the Company is to invest (either directly and/or indirectly through FOIF II LP and FOMC III LP) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.

Note 1: The General Partner's estimate of the potential total return for this investment in calculated across certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved.

 

END

 

 

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