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18 Jan 2010 07:00
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Greenwich Loan IncomeĀ FundĀ LimitedĀ ("GLIF"Ā orĀ theĀ "Company")
QuarterlyĀ CLOĀ TestĀ Results
18 January 2010Ā
The Company announces the test results as of 5 January 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/6613F_-2010-1-15.pdf
The quarterly results as of 5 January 2010 indicate that the CLO met all of the covenant tests necessary for a full interest payment to be made to the Company, and US$2.5 million has been received from the trustee. TheĀ CLO also passed all of the percentageĀ limitationĀ tests.Ā Ā
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 further principal paydowns and/or interest diversion.
Contacts:
Geoffrey Miller
Greenwich Loan IncomeĀ FundĀ Limited
+353 1 4433 466
PatrickĀ ConroyGreenwich Loan IncomeĀ FundĀ Limited+1Ā 203Ā 983Ā 5282
PhilipĀ Secrett
NominatedĀ Adviser
GrantĀ ThorntonĀ Corporate Finance
+44 (0) 20 7383Ā 5100
Jos Trusted
Singer Capital Markets LimitedĀ
+44 (0) 20Ā 3205Ā 7622
Ed Gascoigne Pees
Financial Dynamics
+44 (0) 20 7269 7132
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