EJF Investments Ltd Recent Investment Announcement (8045U)
27 October 2017 - 5:00PM
UK Regulatory
TIDMEJFI
RNS Number : 8045U
EJF Investments Ltd
27 October 2017
FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES,
ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE
UNITED KINGDOM), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY
OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
27 October 2017
EJF Investments Ltd
Recent Investment Announcement
The Board of EJF Investments Ltd ("EJFI" or the "Company") is
pleased to announce that the Company, through its wholly owned
subsidiary, invested approximately $17.0 million (approximately
GBP12.9 million (as converted using foreign exchange rates reported
for the day the purchase occurred)) in the preferred shares (the
"Risk Retention Investment") issued by TruPS Financials Note
Securitization 2017-2 Ltd ("TFINS 2017-2") on 26 October 2017.
TFINS 2017-2 is a securitization of approximately $340.4 million
of trust preferred securities, senior notes, subordinated notes,
and surplus notes issued by 29 U.S. community banks and 23 U.S.
insurance companies (collectively, the "Underlying Securities")
with an aggregate par value of approximately $353.0 million. The
Underlying Securities have a fixed-rate weighted average coupon of
approximately 7.7 per cent. and a floating-rate weighted average
spread of approximately 3.1 per cent. Additionally, the weighted
average life of the Underlying Securities is approximately 11
years. TFINS 2017-2 has a final maturity date of September 2039,
but will be callable beginning in 18 months from issuance at the
option of the preferred shareholders, with mandatory auction calls
beginning after eight years. Anticipated return scenarios estimate
that the Risk Retention Investment will generate a gross return in
the low double digits over the estimated life of the
investment.
In addition to the Risk Retention Investment, the Company
announces that during the month of October the Company sold four
positions in its legacy REIT TrupS CDO portfolio, contributing a
gain for the month of approximately $1.9 million (approximately
GBP1.5 million (as converted using foreign exchange rates reported
for the day the trades occurred)).
ENQUIRIES
For the Investment Manager
EJF Investments Manager LLC
Peter Stage / Hammad Khan
pstage@ejfcap.com / hkhan@ejfcap.com
+44 203 752 6775 / +44 203 752 6771
For the Company Secretary and Administrator
Crestbridge Fund Administrators Limited
EJFInvestors.jsy@crestbridge.com
+44 1534 835 600
For the Broker
Henry Freeman / Gillian Martin / Ben Roberts
+44 20 3100 2000
About EJF Investments Limited
EJFI is a registered closed-ended limited liability company
incorporated in Jersey under the Companies (Jersey) Law 1991, as
amended, on 20 October 2016 with registered number 122353. The
Company is regulated by the Jersey Financial Services Commission
(the "JFSC"). The JFSC is protected by both the Collective
Investment Funds (Jersey) Law 1988 and the Financial Services
(Jersey) Law 1998, as amended, against liability arising from the
discharge of its functions under such laws.
LEI: 549300XZYEQCLA1ZAT25
Investor information & warnings
The latest available information on the Company can be accessed
via its website at www.ejfi.com.
This communication has been issued by, and is the sole
responsibility of, the Company and is for information purposes
only. It is not, and is not intended to be an invitation,
inducement, offer or solicitation to deal in the shares of the
Company. The price and value of shares in the Company and the
income from them may go down as well as up and investors may not
get back the full amount invested on disposal of shares in the
Company. An investment in the Company should be considered only as
part of a balanced portfolio of which it should not form a
disproportionate part. Prospective investors are advised to seek
expert legal, financial, tax and other professional advice before
making any investment decision.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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