REG-Third Point Investors Ltd: TPIL Announcement on Gearing Facility

Third Point InvestorsAnnouncement

31/05/2023 11:00

31 May 2023

 

TPIL Announcement on Gearing Facility

 

This announcement contains inside information.

 

The Board of Third Point Investors Limited (“TPIL” or the “Company”)
announces that it intends to discontinue the use of its gearing facility,
effective 2 June 2023.

 

TPIL originally entered into a credit facility, pursuant to which it borrowed
up to $150 million at a rate of LIBOR plus 2.4%, for a period of two years
starting on 1 September 2021. In consultation with the Investment Manager, the
Board made the decision to: 1) submit a redemption from the Master Fund in the
amount of $151.7 million, which covers principal plus accrued interest, and 2)
use these proceeds to repay the loan on 2 June 2023.

 

The Board chose to do so before the end of the two-year term so as to save on
additional interest expense, and there is no prepayment fee associated with
this action.

 

- Ends -

 

  Press Enquiries

 Third Point Elissa Doyle, Chief Communications Officer and Head of ESG Engagement edoyle@thirdpoint.com Tel: +1 212-715-4907  Buchanan  Charles Ryland charlesr@buchanan.uk.com Tel: +44 (0)20 7466 5107 Henry Wilson henryw@buchanan.uk.com Tel: +44 (0)20 7466 5111  

 

 

 

Notes to Editors

About Third Point Investors Limited

www.thirdpointlimited.com

Third Point Investors Limited (LSE: TPOU) was listed on the London Stock
Exchange in 2007 and is a feeder fund that invests in the Third Point Offshore
Fund (the Master Fund), offering investors a unique opportunity to gain direct
exposure to founder Daniel S. Loeb’s investment strategy. The Master Fund
employs an event-driven, opportunistic strategy to invest globally across the
capital structure and in diversified asset classes to optimize risk-reward
through a market cycle. TPIL’s portfolio is 100% aligned with the Master
Fund, which is Third Point’s largest investment strategy. TPIL’s assets
under management are currently $600 million.

 

About Third Point LLC

Third Point LLC is an institutional investment manager that actively engages
with companies across their lifecycle, using dynamic asset allocation and an
ethos of continuous learning to drive long-term shareholder return. Led by
Daniel S. Loeb since its inception in 1995, the Firm has a 37-person
investment team, a robust quantitative data and analytics team, and a deep,
tenured business team. Third Point manages approximately $12.2 billion in
assets for sovereign wealth funds, endowments, foundations, corporate & public
pensions, high-net-worth individuals, and employees.

 



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