20th Sep 2024 18:51
Blackstone Loan Financing Ltd - investment company in managed wind-down - Reports half year results to June 30. Notes difference in IFRS net asset value per share of 81 euro cents, up from 73 cents in December and published NAV per share of 91 cents, unchanged. IFRS Nav total return is 18.06%, up from 17.76%. Published NAV is 5.64%, down from 10.39% in December. The firm has an IFRS discount rate loss of 19.53%, widened from 18.62%. Publish NAV discount rate loss is 28.35%, narrowed from 35.15%. Says IFRS values calculated with a "mark to market" approach, while published values use "mark to model". BCF portfolio at June 30 is "highly diversified and defensively positioned", Blackstone says. Portfolio year-to-date default rate is 0.6%, less than the European and US loan indices of 0.8% and 2.6% respectively. Blackstone paid two dividends of 2.25 cents during the period and plans for two further payouts this year, to total nine cents. Read More
