Blackstone Loan Financing Limited Non-material change to Investment Policy (6289P)
10 Febrero 2023 - 10:12AM
UK Regulatory
TIDMBGLF
RNS Number : 6289P
Blackstone Loan Financing Limited
10 February 2023
10 February 2023
Blackstone Loan Financing Limited
(the "Company")
Non-material change to Investment Policy
The board of directors of the Company (the "Board") announces
that Blackstone Corporate Funding Designated Activity Company
("BCF") has notified the Board of a proposed change to BCF's
investment policy. Under the Company's published investment policy,
which has remained unchanged since inception and is set out in the
most recent Annual Report, it is the intention of the Company that
the investment policies of each of its Substantial Underlying
Companies (meaning underlying companies to which the Company has an
exposure of at least 20 per cent. of its gross assets, and which
includes BCF) shall mirror that of the Company. The Board therefore
announces a corresponding change to the Company's own investment
policy.
The proposed change to the investment policy will provide that
BCF (or an underlying company through which it invests) may now
also hold minority equity positions in addition to majority equity
positions and /or debt positions in European and US collateralised
loan obligations ("CLOs"), which for the avoidance of doubt, would
all be in Blackstone managed and controlled CLOs. Accordingly, BCF
(or any underlying company through which it invests) may not be the
risk retention provider in respect of certain CLOs in which it
comes to hold a minority equity position (in such circumstances,
the risk retention will be held by another Blackstone affiliated
entity in compliance with UK and European risk retention
rules).
Subject to finalisation of the relevant changes, it is expected
that the changes to the investment policy will take effect on or
around 24 February 2023 (the "Effective Date").
The Board notes that the expected risk/return profile of the
Company's investments held via BCF will continue to be
substantially the same following the Effective Date and accordingly
is of the view that this does not amount to a material amendment to
the Company's existing investment policy.
For the avoidance of doubt, the proposed change described above
is not connected to the shareholder consultation announced on 26
January 2023.
Enquiries:
Blackstone Loan Financing Limited via BNP Paribas
Charlotte Valeur, Chair
BNP Paribas 01534 709178 / 813873
Singer Capital Markets
James Maxwell / Alaina Wong (Corporate
Finance)
Alan Geeves / Sam Greatrex (Sales) 020 7496 3000
Winterflood Investment Trusts
Neil Langford (Corporate Finance)
Darren Willis (Sales) 020 3100 0000
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END
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February 10, 2023 11:12 ET (16:12 GMT)
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