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KKV Secured Loan Fd (KKVL)

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Wednesday 04 August, 2021

KKV Secured Loan Fd

Update on Assets

RNS Number : 5397H
KKV Secured Loan Fund Limited
04 August 2021
 

 

4 August 2021

 

KKV Secured Loan Fund Limited

(the "Company")

 

LEI: 2138007S3YRY3IUU4W39

 

Update on Assets

 

The Board of the Company is pleased to announce that a further loan underwritten by the Company, which is held solely within the C Share class portfolio, has been refinanced with another provider.  The loan has been refinanced for consideration of £16.82m, being the total amount outstanding under the loan. The Company will also receive an early repayment premium of an estimated £0.7 to £0.8m, which, due to the original opening structure of the transaction, will be received next year. As at 31 December 2020, the loan had a carrying value of £17.53m and was marked as Borrower 41 in the December 2020 Half-Yearly Report and Accounts. The lower consideration received compared to the carrying value reflects the amortisation of principal during the intervening period.

In addition, the Board of the Company is pleased to announce the disposal of the Company's interest in a loan, which was held solely within the Ordinary Share class portfolio, for a consideration of US$1.00m.  As at 31 December 2020, the loan had a carrying value of zero and was marked as Borrower 16 in the December 2020 Half-Yearly Report and Accounts. 

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

 

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulation (Regulation 596/2014/EU), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

 

For further information please contact: 

 

KKV Secured Loan Fund Limited

 

Brett Miller via the Company Secretary

KKV Investment Management Ltd

Catherine Halford Riera

 

 

[email protected]

 

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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