Update on Assets

RNS Number : 1899O

KKV Secured Loan Fund Limited

06 October 2021

 

6 October 2021

KKV Secured Loan Fund Limited

(the "Company")

LEI: 2138007S3YRY3IUU4W39

Update on Assets

The Board of the Company is pleased to announce that two loans within the C Share Class Portfolio, that provided regulatory capital for a US insurance business, have been purchased by another party.  The loans have been purchased for consideration of US$4.0m. As at 31 December 2020, the loans had a carrying value of zero. The loans were marked as Borrower 42 and 58 within the C Share Class Portfolio in the December 2020 Half-Year Report and Accounts.

Additionally, a loan within the Ordinary Share Class Portfolio that financed domestic heating systems and associated maintenance contracts has been settled. The loan was purchased for consideration of £3.8m. As at 31 December 2020, the loan had a carrying value of £3.0m. The loan was marked as Borrower 10 within the Ordinary Share Class Portfolio in the December 2020 Half-Year Report and Accounts.

Finally, the Board of the Company would also like to notify investors of two smaller settlements of positions within the Ordinary Share Class Portfolio, as detailed below:

Borrower	Consideration	Date of Completion	December 2020 Carrying Value	Loan Description
181	£0.0m	12 July 2021	£0.0m	Farm scale AD Plant
35	£0.3m	31 August 2021	£0.0m	Moveable micro hotel

^1. Position was written off post receiving nil value from administration

The Directors intend to convene a board meeting in the near future to consider a further return of capital.

For further information please contact: 

KKV Secured Loan Fund Limited	Brett Miller via the Company Secretary
KKV Investment Management Ltd	[e-mail]
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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