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LONDON (Alliance News) - Blackstone/GSO Loan Financing Ltd on Thursday said it now expects the issue of its C shares to Carador Income Fund PLC shareholders to occur on Monday.
At the end of December, Carador said 34% of its US dollar share holders have elected to exchange an aggregate of 133.5 million shares into Blackstone C shares.
This follows Carador shareholders' approval of the wind down of its US dollar class portfolio. The investment company offered to shareholders to either participate in the Blackstone rollover opportunity or receive cash in instalments on the repurchase of Carador shares.
Blackstone had previously expected the admission of its C shares to occur on Friday. However, on Thursday, the company explained that the rollover offer was subject to the satisfactory completion of the requisite anti-money laundering checks, which are taking longer than originally anticipated, partly due to seasonal factors.
Blackstone shares closed down 3.7% on Thursday at 68.60 pence each, while Carador shares closed down 1.8% at USD0.56 each.