Portfolio Update

RNS Number : 5554N

ICG-Longbow Snr Sec UK Prop DebtInv

27 October 2016

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

27 October 2016

ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)

Portfolio Update

The borrower under the Group's¹ RAEES International loan has completed a refinancing of the properties which provided security for the Group's loan.  As a result, the £13.25 million loan has been repaid in full, together with interest, exit and prepayment fees of approximately £1.8m in aggregate.  The proceeds of this repayment will be received by the Company shortly.

The Investment Manager has an encouraging pipeline of potential transactions in which the Group could reinvest these proceeds, and will seek to do so in the manner most accretive to shareholders.

For further information, please contact:

Heritage International Fund Managers Limited:
Mark Huntley James Christie			[phone]
Cenkos Securities plc Will Rogers	[phone]
Maitland Consultancy Limited:
Rebecca Mitchell Seda Ambartsumian		[phone]

Further information on the Company can be found on its website at http://www.lbow.co.uk.

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¹ Group refers to the two companies within the group structure, ICG-Longbow Senior Secured UK Property Debt Investments Limited and ICG Longbow Senior Debt SA.

 

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