REG - Blackstone Loan Fin - Compulsory Partial Redemption of Shares

Blackstone Loan FinancingAnnouncement

21/11/2024 07:00

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RNS Number : 0254N  Blackstone Loan Financing Limited  21 November 2024

21 November 2024

Blackstone Loan Financing Limited

(the "Company")

Compulsory Partial Redemption of Shares

 

Further to the approval given by the Company's shareholders to enable
compulsory redemptions of the Company's ordinary shares ("Shares"), as
described in the circular dated 25 August 2023 (the "Circular"), the Company
today announces that it will return approximately €61,000,000 by way of a
compulsory partial redemption of up to 68,004,459 Shares (the "Second
Redemption") on 19 December 2024 (the "Redemption Date"). Approximately
16.2706% of the existing Shares will be redeemed.

The Second Redemption will be effected at €0.8970 per Share, being the NAV
per Share as at 31 October 2024. The Second Redemption will be effected
pro-rata to holdings of such shares on the register at close of business on 29
November 2024 ("Redemption Record Time"). As at today's date, the Company has
417,959,768 Shares in issue, of which none are held in treasury.

On this basis, a holder of 10,000 Shares will have 1,627 Shares redeemed, and
receive €1,459.41 in cash.

Fractions of Shares will not be redeemed and so the number of Shares held by
each shareholder to be redeemed compulsorily on the Redemption Date will be
rounded down to the nearest whole number of Shares.

The amount to be applied to the partial redemption of Shares comprises monies
from the Company's existing cash balances.

All Shares that are redeemed will be cancelled with effect from the Redemption
Date. Accordingly, once redeemed, such Shares will be incapable of transfer.

The Shares will be disabled in CREST after close of business on the Redemption
Date and the existing ISIN number JE00BSMSML25 (the "Old ISIN") will expire.

The new ISIN number JE00BM8J7D47 (the "New ISIN") in respect of the remaining
Shares, which have not been redeemed and will be in issue and listed following
the Redemption Date and will be enabled and available for transactions from
and including 02 December 2024.

Up to and including the Redemption Date, the Shares will continue to be traded
under the Old ISIN and as such, a purchaser of such Shares who was not on the
register as at the Redemption Record Time would have a market claim for a
proportion of the redemption proceeds. CREST will automatically transform any
open transactions as at the Redemption Date into the New ISIN.

Shareholders should note that the Board retains absolute discretion as to the
execution, extent and timing of any further redemptions.

 

Expected timetable for redemption

The anticipated dates and sequence of events relating to the implementation of
the Proposals are set out below:

 

 Latest time to submit currency election form for the                         1.00 p.m. on 29 November 2024

 Second Redemption
 Second Redemption Record Date                                                6:00 p.m. on 29 November 2024
 Second Redemption Date and expiry of Old ISIN number                         29 November 2024
 Second Redemption Ex Date                                                    02 December 2024
 New ISIN number enabled JE00BM8J7D47                                         02 December 2024
 Redemption monies paid to uncertificated holdings and certificated holdings  19 December 2024

Currency Election

Redemption monies will be paid in Euros. If any certificated or uncertificated
Shareholder wishes to receive redemption monies in Sterling, they must
complete a redemption currency election form and return it either by email to
operationalsupportteam@linkgroup.co.uk
(mailto:operationalsupportteam@linkgroup.co.uk) or by post to Link Group,
Corporate Actions, Central Square, 29 Wellington Street Leeds, LS1 4DL no
later than 1.00 p.m. on 29 November 2024. A copy of this form is available on
the Company's website at
https://www.blackstone.com/fund/bglfln-blackstone-loan-financing-limited/#investor-documents
(https://www.blackstone.com/fund/bglfln-blackstone-loan-financing-limited/#investor-documents)
.

Please note that if you have previously advised the Registrar, Link Group,
that you wish to receive your dividends in Sterling, you will need to advise
them separately if you also wish to receive your redemption monies in
Sterling.

Please note that, unlike dividend currency elections, Shareholders cannot
elect to switch the currency in which they receive proceeds of the Redemption
through the CREST platform. Any redemption currency election forms submitted
shall relate only to the proceeds of the current Redemption and will not
endure.

Capitalised terms used but not defined in this announcement will have the same
meaning as set out in the Circular.

Enquiries:

 

 Blackstone                                        via BNP Paribas

 BNP Paribas                                       01534 709189 / 709108

 Singer Capital Markets                            020 7496 3000

 James Maxwell / Alaina Wong (Corporate Finance)

 Alan Geeves / Sam Greatrex (Sales)

 Winterflood Investment Trusts                     020 3100 0000

 Neil Langford (Corporate Finance)

 Darren Willis (Sales)

 

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