Hadrian's Wall Raises GBP20.1 Million By C Share Placing (ALLISS)

8th Mar 2018 16:21

LONDON (Alliance News) - Hadrian's Wall Secured Investments Ltd said on Thursday it has raised GBP20.1 million through a placing of 20.1 million C shares at a price of 100 pence per share.

Shares in the closed-ended investment company were untraded on Thursday, last quoted at 99.27 pence.

In February, the company said it was seeking to raise GBP50.0 million in order to enter into loan transactions in its pipeline, and expects that deployment will be completed within a period of around six to nine months, although this will depend on the amount of capital raised.

Hadrian's loan portfolio is spread across a number of sectors including manufacturing, energy, autos, healthcare, and property. All loans are secured over underlying assets and the weighted average annualised portfolio gross yield, before expenses and exclusive of upfront or other fees, on invested assets is 9.2%.

Winterflood Securities Ltd is acting as sole sponsor, financial adviser and book runner to the company.

Hadrian's Wall currently has 125.0 million ordinary shares and 20.1 million C shares issued overall.

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