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12 May 2023 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.
12 May 2023
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Portfolio Update
The Company announces that, in conjunction with its co-lenders, it has appointed an administrator over the borrower of the RoyaleLife loan. This is a measure to protect the Company's interests following a winding up petition being filed by a third party creditor against the borrower under the loan.
Whilst the latest independent third party valuation of the RoyaleLife portfolio as at 31 January 2023 showed an equity buffer above the Company's exposure, the Company is considering the impact, if any, of the administration on the Company's net asset value and will provide further information when available.
The Company is currently finalising its annual report and accounts for the year ended 31st January 2023, which are expected to be published in the week commencing 15 May.
For further information, please contact:
Ocorian Administration (Guernsey) Limited | |
Louise Manklow
| +44 (0)14 8174 2742 |
Cenkos Securities: | |
Will Talkington Daniel Balabanoff
| +44 (0)20 7397 1910 +44 (0)20 7397 1909 |
ICG Longbow Clare Glynn |
+44 (0)20 3545 2000 |
Further information on the Company can be found on its website at http://www.lbow.co.uk.
ICG Longbow LEI: 2138008BKBH3OP2CA764
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