HCC Proceeds and Weekly Estimated NAV

RNS Number : 3455P

Highbridge Tactical Credit Fund Ltd

09 October 2019

 

09 October 2019

HIGHBRIDGE TACTICAL CREDIT FUND LIMITED

(the "Company")

Receipt of HCC Proceeds and temporary cessation of Weekly Estimated Net Asset Value

The Board of the Company is pleased to announce that the Company has received £127,089,563 (the "HCC Proceeds") in connection with the partial redemption of the Company's holding in Highbridge Multi-Strategy Fund Corporation ("HCC"),  made as a result of the Initial Cash Exit Offer and Subsequent Cash Exit Offer. This amount represents approximately 75% of the assets of the Highbridge Multi-Strategy Master Fund, L.P. (into which HCC invested substantially all of its investable assets) attributable to former shareholders of the Company who redeemed their Shares pursuant to the Initial Cash Exit Offer and/or the Subsequent Cash Exit Offer ("2019 Cash Exit Offers").  An announcement concerning the amount to be paid to each former shareholder who redeemed under the 2019 Cash Exit Offers will be made later this week.

In addition, due to the transition of the Company's investments from HCC to the 1992 Tactical Credit Fund, Ltd., the Company announces that the next estimated unaudited Net Asset Value ("NAV") per Ordinary Share to be published will be calculated as at 30 September 2019.  This is expected to be before the end of October. In the intervening period the publication of a weekly estimated unaudited NAV will temporarily cease, to be resumed following the publication of the estimated unaudited NAV as at 30 September 2019.

Terms used and not defined in this announcement will bear the meanings given in the circular dated 28 August 2019.

Enquiries:

Praxis Fund Services Limited

Company Secretary

Tel: [phone]

Katie Standley, J.P. Morgan Asset Management (UK)

Tel: [phone]

LEI: 213800397SYHLYFH5961

E&OE - in transmission

 

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