Fair Oaks Income Limited Portfolio Update (6155S)
October 04 2017 - 2:00AM
UK Regulatory
TIDMFAIR TIDMTTM TIDMFA14
RNS Number : 6155S
Fair Oaks Income Limited
04 October 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, TO US PERSONS OR IN OR INTO THE
UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, THE
REPUBLIC OF IRELAND, JAPAN OR ANY JURISDICTION IN WHICH THE SAME
WOULD BE UNLAWFUL.
This announcement does not constitute or form part of, and
should not be construed as, any offer for sale or subscription of,
or solicitation of any offer to buy or subscribe for, any shares in
Fair Oaks Income Fund Limited or securities in any other entity, in
any jurisdiction, including the United States, nor shall it, or any
part of it, or the fact of its distribution, form the basis of, or
be relied on in connection with, any contract or investment
decision whatsoever, in any jurisdiction. This announcement does
not constitute a recommendation regarding any securities.
Fair Oaks Income Limited
04 October 2017
FAIR OAKS INCOME LIMITED (the "Company")
(Incorporated in Guernsey under The Companies (Guernsey) Law,
2008, as amended, with registered number 58123 and registered as a
Registered Closed-ended Collective Investment Scheme with the
Guernsey Financial Services Commission)
PORTFOLIO UPDATE
Fair Oaks Income Limited (the "Company") is pleased to announce
that FOMC II LP ("Master Fund II") has entered into binding
contracts to acquire, in the primary market, $29 million notional
of equity notes, representing 63% of the total equity of Mariner
CLO 2017-4, a new CLO backed by a portfolio of US broadly
syndicated, secured loans.
The manager of this CLO's portfolio is Mariner Investment Group
("Mariner"), a subsidiary of Orix Corporation, a global financial
services firm with over $300 billion in assets under
management.
This CLO's current target portfolio has a principal value of
$600 million across an expected 212 unique bank loan issuers, with
an expected weighted average exposure per issuer of approximately
0.5%.
The potential total return for this investment as estimated by
the general partner of Master Fund II is between 15% and 17% per
annum (see Note 1).
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a registered closed-ended investment
company incorporated in Guernsey. The Company was admitted to
trading on the Specialist Fund Market of the London Stock Exchange
(now the Specialist Fund Segment of the Main Market of the London
Stock Exchange) on 12 June 2014.
The investment policy of the Company is to invest (either
directly and/or indirectly through the Master Fund and/or Master
Fund II) in US and European CLOs or other vehicles and structures
which provide exposure to portfolios consisting primarily of US and
European floating-rate senior secured loans and which may include
non-recourse financing. The Company will implement its investment
policy by remaining invested in the Master Fund and making new
investments in Master Fund II.
Notes
1) The General Partner's estimate of the potential total return
for this investment in calculated across certain scenarios and
subject to certain assumptions. This and any other references
herein to potential future returns or distributions are targets and
not forecasts and there can be no guarantee or assurance that they
will be achieved.
This document is for information purposes only and is not an
offer to invest. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment
decisions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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