16 Jun 2010 07:00
Greenwich Loan Income Fund Limited ("GLIF" or the "Company")
CLO Test Results
16 June 2010
The Company announces the test results as of 2 June 2010 pursuant to the indenture of T2 Income Fund CLO I Ltd (the "CLO"), of which the Company owns all of the residual economic interest. The report summarising the results of those tests can be found at the link below:
http://www.rns-pdf.londonstockexchange.com/rns/6738N_-2010-6-15.pdf
The current month's test results are not controlling as to the next payment date test, July 2010. It should be noted that test results may vary widely from month to month.
As described in previous press releases, the CLO indenture contains a variety of covenants, compliance with which, as well as curing existing defaults, could be made more difficult or impossible should credit markets deteriorate or the loans held by the CLO fail to make expected payments or otherwise not perform, or for a variety of other reasons, and which if violated could result in additional principal paydowns of the CLO's notes and/or interest diversion.
Contacts:
Geoffrey Miller
Greenwich Loan Income Fund Limited
+353 1 4433 466
Patrick Conroy Greenwich Loan Income Fund Limited +1 203 983 5282
Philip Secrett
Nominated Adviser
Grant Thornton Corporate Finance
+44 (0) 20 7383 5100
James Maxwell
Singer Capital Markets Limited
+44 (0) 20 3205 7650
Ed Gascoigne Pees
Financial Dynamics
+44 (0) 20 7269 7132