Last checked at 
17 Mar 2016 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.
17th March 2016
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Advancement of Loan
Further to the repayment of the Mansion loan, as notified on 8th March 2016, the Company has redeployed the proceeds through the completion of a new £22.4 million loan to Commercial Regional Space Limited and affiliates on 16th March 2016.
The loan has a maturity date of April 2019 and is fully compliant with the parameters set out in the Prospectus, with the £22.4 million loan balance representing 19.96% of the Company's gross assets as at the date of completion.
The loan is secured by first charges against two multi-let industrial estates located in Lancashire comprising 1.25 million sq ft of accommodation and providing a highly diversified income stream from lettings to over 140 tenants.
This transaction reinvests substantially all of the cash held by the Company following the repayment of the Mansion loan. The combined effect of the Mansion loan repayment and this reinvestment is materially accretive to Shareholders, represented by an increase in NAV of approximately 2.5 pence per share. The Company remains on target to maintain the current dividend rate of 6.0 pence per share per annum.
For further information, please contact:
Heritage International Fund Managers Limited: | |||
Mark Huntley James Christie
| +44 (0)14 8171 6000 | ||
Cenkos Securities Ltd Will Rogers Ollie Packard |
+44 (0)20 7397 1920 +44 (0)20 7397 1918 | ||
Maitland Consultancy Limited: | |||
Rebecca Mitchell Seda Ambartsumian | +44 (0)20 7379 5151
| ||
Further information on the Company can be found on its website at http://www.lbow.co.uk.