Last checked at 17 Sep 2018 07:00
Fair Oaks Income Limited
17 September 2018
FAIR OAKS INCOME LIMITED (the "Company")
(Incorporated in Guernsey under The Companies (Guernsey) Law, 2008, as amended, with registered number 58123 and registered as a Registered Closed-ended Collective Investment Scheme with the Guernsey Financial Services Commission)
PORTFOLIO UPDATE
The Company is pleased to announce that FOMC II LP ("Master Fund II") has entered into binding contracts to acquire, in the primary market, $26 million notional of equity notes, and $5.7 million of Class F notes representing 62.5% of each class of notes in HPS 13-2018, a new CLO backed by a portfolio of US broadly syndicated, secured loans.
The manager of this CLO's portfolio is HPS Investment Partners, a multi-strategy global credit and private investment manager with about $46 billion AUM.
This CLO's current target portfolio has a principal value of $510 million across an expected 255 unique bank loan issuers, with an expected weighted average exposure per issuer of approximately 0.47%.
The potential total return for this investment, blended across both note classes, as estimated by the general partner of Master Fund II is between 14% and 15% per annum (see Note 1).
Notes:
1) Expected return calculated from inception, as of 29-Aug-18.
2) The General Partner's estimate of the potential total return for this investment is calculated across certain scenarios and subject to certain assumptions. This and any other references herein to potential future returns or distributions are targets and not forecasts and there can be no guarantee or assurance that they will be achieved.
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a registered closed-ended investment company incorporated in Guernsey. The Company was admitted to trading on the Specialist Fund Market of the London Stock Exchange (now the Specialist Fund Segment of the Main Market of the London Stock Exchange) on 12 June 2014.
The investment policy of the Company is to invest (either directly and/or indirectly through the Master Fund and/or Master Fund II) in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing. The Company will implement its investment policy by remaining invested in the Master Fund and making new investments in Master Fund II.