30th Apr 2019 18:27
LONDON (Alliance News) - Blackstone / GSO Loan Financing Ltd on Tuesday said it saw a decline in its net asset value in 2018.
The investment company reported NAV per share at the end of 2018 of EUR0.8963, down from EUR0.9378 a year earlier.
"The company's performance was impacted by a compression of the net interest margin of underlying collateralized loan obligation investments due to spread narrowing within the loan portfolios held within the CLOs," explained Chair Charlotte Valeur.
Blackstone / GSO Loan Financing's share price at the year-end stood at EUR0.76 per share, representing a 15% discount to NAV. More positively, the company said its discount narrowed to 7.4% as at Tuesday.
"As we move into 2019, we continue to believe that the company is well positioned to access favourable investment opportunities in loans, CLOs and warehouses through its investment in Blackstone / GSO Corp Funding Designated Activity Co," added Valeur.
The stock closed 2.7% lower on Tuesday at EUR0.82 per share.
Related Shares:
Blackstone Loan