Mansion Loan Repayment

RNS Number : 3263R

ICG-Longbow Snr Sec UK Prop DebtInv

08 March 2016

 

8 March 2016

ICG-Longbow Senior Secured UK Property Debt Investments Limited

(the "Company")

Mansion Loan Repayment

The borrower under the Company's Mansion loan has now completed the disposal of the two student accommodation properties which provided security for the Company's loan. As a result of this disposal the £18.07 million loan has been repaid in full, together with exit and prepayment fees of approximately £2.5m in aggregate. The total proceeds of this repayment will be received by the Company shortly.

The Company is in advanced discussions to deploy these proceeds in a transaction which would be accretive to shareholder value.  The Company anticipates that this transaction will close before the end of March and will make a further announcement in due course.

Enquiries

Heritage International Fund Managers Limited:
Mark Huntley James Christie	[phone]

ICG-Longbow

Martin Wheeler                    [phone]

Cenkos Securities

Will Rogers                         [phone]

Ollie Packard                       [phone]

 

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