News Column

GLI Finance Completes Sale Of Collateralised Loan Obligations

June 12, 2014

Rowena Harris-Doughty



LONDON (Alliance News) - GLI Finance Ltd Thursday said it has transferred its two remaining collateralised loan obligation investments to Fair Oaks Income Fund Ltd for USD20.4 million in cash and 34.3 million Fair Oaks Income Fund shares at an issue price of USD1.00 per share.


The small and medium sized enterprises finance provider said it will use the funds from the exit of the CLO investments to deploy into its underlying SME finance assets.


In 2013, interest income and dividend revenue relating to the CLO investments amounted to GBP9.6 million.


Fair Oaks Income Fund was admitted to the specialist fund market of the London Stock Exchange on Thursday. The fund raised gross proceeds of USD114.5 million from the listing. The fund is seeking to invest in US and European CLOs or other vehicles and structures which provide exposure to portfolios consisting primarily of US and European floating-rate senior secured loans and which may include non-recourse financing.


GLI Finance shares were trading 0.4% lower at 62.01 pence Thursday afternoon.







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Source: Alliance News


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