20th May 2019 11:53
LONDON (Alliance News) - ICG-Longbow Senior Secured UK Property Debt Investments Ltd said Monday it has received a GBP22.4 million loan repayment, allowing the company to reinvest in its "strong pipeline".
ICG-Longbow invests in UK real estate debt, in particular loans secured by fixed charges against commercial property investments.
The closed-ended investment company said the borrower under its commercial regional space loan completed a refinancing of the properties providing security for ICG-Longbow's loan, resulting in the loan being repaid in full.
ICG-Longbow said the proceeds of the repayment will go towards reducing its revolving credit facility and reinvest in the "strong pipeline of new lending opportunities which the company is currently executing".
As of April 23, ICB-Longbow's investment portfolio comprised 10 loans with an aggregate principal balance of GBP121.3 million.
Shares in ICG-Longbow Senior Secured UK Property Debt Investments were up 1.0% Monday at 101.00 pence each.
Related Shares:
Icg-longbow