ICG-Longbow Snr Sec UK Prop DebtInv Portfolio Update (7503M)
January 16 2023 - 2:00AM
UK Regulatory
TIDMLBOW
RNS Number : 7503M
ICG-Longbow Snr Sec UK Prop DebtInv
16 January 2023
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, THE
REPUBLIC OF SOUTH AFRICA OR JAPAN.
16 January 2023
ICG-Longbow Senior Secured UK Property Debt Investments Limited
(the Company)
Portfolio Update
The Company remains focused on its core objective of an orderly
realisation and return of capital to shareholders. It is pleased to
announce that it has received repayment in full of the remaining
GBP6.47 million balance of the LBS loan, following a refinancing of
the underlying property. The repayment is accompanied by interest
and fees of approximately GBP0.3 million in aggregate.
The repayment allows the Company to continue its programme of
capital distributions to shareholders and a further announcement
will be made in due course.
The Company also notes the volatility in its share price on
Friday 13(th) January following publication of an anonymous report
which appears to question the Loan to Value (LTV) ratio of one of
the Company's loans. The reported LTVs on all the Company's
investments are based on independent, third party valuations of the
underlying properties. The Investment Manager is procuring updated
valuations on its security portfolio in preparation for its annual
report and accounts for the period ending 31(st) January 2023.
For further information, please contact:
Ocorian Administration (Guernsey) Limited
Louise Manklow +44 (0)14 8174 2742
Cenkos Securities:
Will Talkington +44 (0)20 7397 1910
Daniel Balabanoff +44 (0)20 7397 1909
ICG Real Estate
David Mortimer +44 (0)20 3201 7532
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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END
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