TIDMKKVL

RNS Number : 0267I

KKV Secured Loan Fund Limited

09 August 2021

9 August 2021

KKV Secured Loan Fund Limited

(the "Company")

LEI: 2138007S3YRY3IUU4W39

Update on Assets

The Board of the Company is pleased to announce that a package of loans secured against shipping vessels to a single borrower, which were underwritten by the Company have been refinanced with another provider. The loans have been refinanced for consideration of US$35.00m. As the loans were held within both the Ordinary and C Share class portfolio, US$16.61m and US$18.39m will be allocated to the Ordinary and C Share class portfolio respectively.

As at 31 December 2020, the loans had a total carrying value of GBP19.09m (US$26.22m(1) ), or GBP8.94m (US$12.28m(1) ) and GBP10.15m (US$13.94m(1) ) respectively across the Ordinary and C Share Class Portfolio. The loans were marked as Borrower 8 within the Ordinary Share Class Portfolio and Borrower 47, 48 and 51 within C Share Class Portfolio in the December 2020 Half-Yearly Report and Accounts. The higher consideration received compared to the carrying value reflects the improved underlying value of the shipping vessels during the intervening period.

The Directors intend to convene a board meeting in the near future to consider a further return of capital.

(1.) For consistency the same exchange rate, GBP:USD 1.37, was used as within the December 2020 Half-Yearly Report and Accounts.

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the Market Abuse Regulation (Regulation 596/2014/EU), as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.

For further information please contact:

 
KKV Secured Loan Fund Limited             Brett Miller via the Company 
                                           Secretary 
KKV Investment Management Ltd              Investor.communications@kkvim.com 
 Catherine Halford Riera 
BNP Paribas Securities Services S.C.A., 
 Guernsey Branch 
 Company Secretary                        01481 750 853 
Winterflood Securities Limited 
 Neil Langford 
 Chris Mills                              020 3100 0000

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August 09, 2021 07:04 ET (11:04 GMT)

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