27 Oct 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.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
27 October 2016
ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)
Portfolio Update
The borrower under the Group's1 RAEES International loan has completed a refinancing of the properties which provided security for the Group's loan. As a result, the £13.25 million loan has been repaid in full, together with interest, exit and prepayment fees of approximately £1.8m in aggregate. The proceeds of this repayment will be received by the Company shortly.
The Investment Manager has an encouraging pipeline of potential transactions in which the Group could reinvest these proceeds, and will seek to do so in the manner most accretive to shareholders.
For further information, please contact:
Heritage International Fund Managers Limited: | |||
Mark Huntley James Christie
| +44 (0)14 8171 6000 | ||
Cenkos Securities plc Will Rogers
|
+44 (0)20 7397 1920
| ||
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.
1 Group refers to the two companies within the group structure, ICG-Longbow Senior Secured UK Property Debt Investments Limited and ICG Longbow Senior Debt SA.
Icg-longbow (LBOW)