15th Oct 2018 13:33
LONDON (Alliance News) - ICG-Longbow Senior Secured UK Property Debt Investments Ltd said Monday the borrower under its Hulbert loan has completed a sale and refinancing of the properties, which provided security for the loan.
The Hulbert loan is a GBP6.6 million loan to refinance a portfolio of industrial units predominantly located in Dudley in the West Midlands.
The loan has now been repaid in full, together with accrued interest, exit and prepayment fees of about GBP260,000.
The company reiterated its belief it has an "encouraging" pipeline of opportunities, which it is seeking to reinvest the proceeds of the Hulbert loan in the near term.
Shares in ICG-Longbow were up 0.2% Monday at 101.40 pence each.
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