Icg-longbow Regulatory News (LBOW)

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN.

27 November 2013

ICG-Longbow Senior Secured UK Property Debt Investments Limited (LBOW)

Advancement of Loan

The Company has completed its fourth transaction with an £7.20 million loan to a group of companies controlled by Richmond Trust.

The facility has a maturity date of November 2018 and is secured by a first and only charge on a mixed use portfolio of high street retail and tenanted residential units located predominantly in London and the South East. The security portfolio comprises 15 properties with a highly diverse income stream from 39 retail and 57 residential tenants, with the largest tenants being Argos Distributors Ltd and Tesco Stores Ltd, accounting for 10.3% and 8.5% of total rent, respectively. The loan is fully compliant with the parameters set out in the Prospectus.

The completion of this loan increases the total investments made to date to £57.54 million, representing 56.14% of available capital. The Company's loan portfolio now produces an average coupon of 7.28% pa(1), with a projected internal rate of return if held to maturity of 8.38% pa(1). The average Loan to Value exposure across the four loans is 59.98%(1), with an average Interest Coverage Ratio of 181%(1) .

The loan portfolio security shows a geographical split of:

Greater London: 39%

North West: 25%

West Midlands: 22%

Scotland: 10%

South East 3%

East 1%

The split by property sector is:

Retail: 31%

Industrial/ Distribution 25%

Other (student accommodation): 31%

Mixed 13%

(1) All averages calculated on a capital weighted basis

The Richmond Trust loan is one of the five pipeline transactions totalling £52 million reported in the Interim Report as at 27th September 2013. Of the remaining four pipeline transactions reported, three are at advanced stages and progressing towards completion. The fourth transaction has not progressed as rapidly but has a target completion date prior to the year end.

Additionally, the Company has access to a reserve pipeline of four transactions at an earlier stage of due diligence, each of which would fit the Company's investment strategy should any of the primary pipeline transactions not proceed.

For further information, please contact:

Further information on the Company can be found on its website at http://www.lbow.co.uk.