28th Sep 2015 11:57
LONDON (Alliance News) - Closed-ended investment company Toro Ltd on Monday said it has invested EUR31.3 million in a portfolio of non-performing loans.
The firm said that the co-investment will be junior to any senior financing of the portfolio and backed proportionately by loan exposures to 1,654 SMEs and to 2,283 secured residential loans originated by Spanish banks Bancaja, Bankia and Caja Madrid.
The expected weighted average life of the portfolio is 2.8 years, and the expected return is approximately 15%.
Following the transaction, the company is now approximately 83% invested.
Shares in Toro were trading up 2.5% at 1.01 pence on Monday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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