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LONDON (Alliance News) - Investment companies Chenavari Capital Solutions Ltd and Toro Ltd on Wednesday both said they had invested in junior instruments in a short-term loan warehousing transaction.
The transaction is backed by a portfolio of leveraged corporate loans, the pair said, with senior financing provided by an unnamed leading global bank.
The portfolio will give Chenavari and Toro exposure to primarily European and UK companies with credit ratings higher than B-, they added.
Chenavari invested EUR4.0 million in the transaction, while Toro invested EUR10.0 million.
Shares in Chenavari were untraded on Wednesday morning, having last traded at 91.26 pence, while Toro shares were also untraded, having last traded at EUR0.940.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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