REG - ICG-Longbow Senior - Portfolio Update

ICG Longbow Senior Secured UK Property Debt InvestmentsAnnouncement

16/01/2023 07:00

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RNS Number : 7503M  ICG-Longbow Snr Sec UK Prop DebtInv  16 January 2023

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16 January 2023

ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company)

Portfolio Update

 

The Company remains focused on its core objective of an orderly realisation
and return of capital to shareholders.  It is pleased to announce that it has
received repayment in full of the remaining £6.47 million balance of the LBS
loan, following a refinancing of the underlying property. The repayment is
accompanied by interest and fees of approximately £0.3 million in
aggregate.

 

The repayment allows the Company to continue its programme of capital
distributions to shareholders and a further announcement will be made in due
course.

 

The Company also notes the volatility in its share price on Friday 13(th)
January following publication of an anonymous report which appears to question
the Loan to Value (LTV) ratio of one of the Company's loans.  The reported
LTVs on all the Company's investments are based on independent, third party
valuations of the underlying properties.  The Investment Manager is procuring
updated valuations on its security portfolio in preparation for its annual
report and accounts for the period ending 31(st) January 2023.

 

For further information, please contact:

 

 Ocorian Administration (Guernsey) Limited
 Louise Manklow                                               +44 (0)14 8174 2742

 Cenkos Securities:
 Will Talkington                                              +44 (0)20 7397 1910

 Daniel Balabanoff                                            +44 (0)20 7397 1909

 ICG Real Estate

 David Mortimer                                               +44 (0)20 3201 7532

 

 

Further information on the Company can be found on its website at
http://www.lbow.co.uk (http://www.lbow.co.uk) .

ICG Longbow LEI: 2138008BKBH3OP2CA764

 

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