KKV Secured Loan Fund Limited Sale of Assets (9404S)
22 Marzo 2021 - 01:00AM
UK Regulatory
TIDMKKVL
RNS Number : 9404S
KKV Secured Loan Fund Limited
22 March 2021
22 March 2021
KKV Secured Loan Fund Limited
(the "Company")
LEI: 2138007S3YRY3IUU4W39
Sale of Assets
The Company is pleased to announce the disposal of two loans
held in the Ordinary Share Class portfolio.
Two loans underwritten alongside an equity sponsor have now been
refinanced with another provider. Glasshouse Generation Limited
("GGL") and Harvest Generation Services Limited ("HGS") have been
refinanced and achieved an IRR to the Company of 9.50% across both
loans. Total consideration payable to the Company is GBP16,043,732
and settlement proceeds are net of introducer and structuring fees
of GBP257,000 capitalised at the time of underwriting in 2016. For
ease of reference, as at 30 June 2020, GGL had a carrying value of
GBP8,058,000 and HGS had a carrying value of GBP7,582,000
(totalling an aggregate carrying value of GBP15,640,000). The two
loans were marked as Borrowers 14 and 15 in the June 2020 Report
and Accounts.
The two disposals represent aggregate net proceeds of circa 4.5
pence per Ordinary Share. This shall contribute towards the next
distribution of capital on the Ordinary Shares in due course.
Brendan Hawthorne, Chairman of the Company, said:
"We are pleased that we have been able to secure further
disposals of assets to the benefit of Shareholders and continue to
work on other projects to return capital with expedience."
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
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DISFLFIRVVILFIL
(END) Dow Jones Newswires
March 22, 2021 03:00 ET (07:00 GMT)
Sqn Asset Finance Income (LSE:SQN)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024
Sqn Asset Finance Income (LSE:SQN)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024