8th Mar 2016 07:00
8 March 2016
ICG-Longbow Senior Secured UK Property Debt Investments Limited
(the "Company")
Mansion Loan Repayment
The borrower under the Company's Mansion loan has now completed the disposal of the two student accommodation properties which provided security for the Company's loan. As a result of this disposal the £18.07 million loan has been repaid in full, together with exit and prepayment fees of approximately £2.5m in aggregate. The total proceeds of this repayment will be received by the Company shortly.
The Company is in advanced discussions to deploy these proceeds in a transaction which would be accretive to shareholder value. The Company anticipates that this transaction will close before the end of March and will make a further announcement in due course.
Enquiries
Heritage International Fund Managers Limited: | |
Mark Huntley James Christie
| +44 (0)14 8171 6000 |
ICG-Longbow
Martin Wheeler +44 (0)20 3201 7502
Cenkos Securities
Will Rogers +44 (0)20 7397 1920
Ollie Packard +44 (0)20 7397 1918
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