21st Jul 2015 08:01
LONDON (Alliance News) - Fair Oaks Income Fund Ltd Tuesday said it is "making arrangements" for a potential issue of up to 200 million C shares at an issue price of USD1.00 each, worth USD200 million in total.
"Qualified investors interested in the potential C Share issue should contact Numis, the company's corporate broker," Fair Oaks said in a statement.
The news is the latest development since Fair Oaks said in June that it was considering options to issue ordinary or C shares.
Issuing C shares requires the company to publish a new prospectus.
Fair Oaks, which invests in US and European collateralized loan obligations, as well as other vehicles and structures which provide exposure to portfolios of US and European floating-rate
senior secured loans, said it expects to publish a prospectus early in August.
A placing of C shares is expected to closed on or around August 10, the company said.
Ordinary shares in the company were down 1.0% at USD0.995 on Tuesday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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