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Friday 20 September, 2019

Zenzic Partners Ltd

Linklease Finance plc - Performance Announcement

RNS Number : 1942N
Zenzic Partners Limited
20 September 2019
 

LINKLEASE FINANCE PLC

(the "Issuer")

(incorporated with limited liability in England and Wales with registration number 11663405)

35 Great St Helen's, London, EC3A 6AP

 

Linklease Finance plc - Performance Report Announcement

19th September 2019

Linklease Financial Plc 9.00% Bonds due 2023 (ISIN: GB00BGWL1326)

(the "Bonds")

The Issuer is pleased to announce that it has issued a performance report, detailing the deployment of funds under its secured Medium Term Note bond Programme.

The next performance report is due in December 2019.

The bonds are listed on the Cayman Stock Exchange and admitted to trading on the Frankfurt Open Market.

 

September 2019 Commentary

The Linklease Series 1 funds raised have been fully allocated to equipment leases across Power, Luxury Vehicles, Manufacturing, Photographic and Healthcare.

Series Details:

Issuance: $50,000,000

ISIN: GB00BGWL1326

Maturity Date: 19th December 2023

 

Profile:

Issuer: Linklease Finance PLC

Servicer: Link Lease Equipment Rental LLC

Base Currency: USD

Coupon 1 - 19th June 2019: Paid

Coupon 2 - 19th September 2019: Paid

 

Metrics:

Asset Cover: 118%

Medical equipment has long duration and low obsolescence, ideal for this structure and is a sector that is seeing significant growth in the Middle East as the population expands.

Luxury vehicles are synonymous with the Middle East environment, with Operating Leases making them even more accessible to the domestic markets. The series has purchased Range Rovers, Bentleys & Aston Martins, together with creating schemes with existing mid-market rental companies to increase their stock holding.

The first and second coupon of the series have now been paid demonstrating the cashflow in the bond and the rating was recently affirmed as A(sf).

The pipeline of Asset Leasing transactions is significant with opportunities in gas storage and processing, through to Solar Energy.

It is a highly diverse asset pool, with zero defaults, a strong yield and an active Asset Management strategy to ensure the equipment is kept in good working order. This includes GPS and RFID tracking, site visits and now a block insurance policy for all assets, replacing a previous asset by asset approach.

Significant opportunity exists for the continued deployment with this series into high quality assets in defensive sectors.

 

Contacts:

For the arranger: Ross Clarke

[email protected]

 

IMPORTANT INFORMATION

 

This announcement is not itself an offer for the sale of any Bonds. Investors should not subscribe for any Bonds referred to in this announcement except on the basis of information in the programme listing particulars which are available on request. The distribution of this announcement and other information in connection with any offer in certain jurisdictions may be restricted by law and persons who come into possession of this announcement or any document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any jurisdiction.

 

This announcement does not constitute or form any offer or invitation to sell, or any solicitation of any offer to purchase any Bonds,

 

Any Bonds referred to herein will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act"). Subject to certain exceptions, such Bonds may not be offered, sold or delivered within the United States or to, or for the account or benefit of U.S. persons. Any bonds referred to herein are expected to be offered and sold outside of the United States in reliance on Regulation S of the Securities Act. There will be no public offering in the United States.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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