Fair Oaks Income Limited Portfolio Update (9538P)
22 October 2021 - 7:48PM
UK Regulatory
TIDMFAIR TIDMFA17 TIDMTTM
RNS Number : 9538P
Fair Oaks Income Limited
22 October 2021
22 October 2021
Fair Oaks Income Limited
(Incorporated in Guernsey under The Companies (Guernsey) Law,
2008, as amended, with registered number 58123 and registered as a
Registered Closed-ended Collective Investment Scheme with the
Guernsey Financial Services Commission)
Portfolio Update
Fair Oaks Income Fund Limited (the "Company") is pleased to
announce that FOMC II LP (the "Master Fund") has completed the
reset of Signal Peak CLO 4, a CLO backed by a portfolio of US
broadly syndicated, secured loans.
The original purchase of Signal Peak CLO 4 ($29 million par
value, formerly called as Mariner CLO 2017-4) was completed in
October 2017 with a weighted average coupon for the CLO financing
of Libor+1.82%. The original investment period for Signal Peak CLO
4 was scheduled to end in October 2021. After the reset, Signal
Peak CLO 4 will benefit from a weighted average coupon of
Libor+1.77% and an investment period ending in October 2026.
As a result of the reset, the potential total return for this
investment, since inception, as estimated by the general partner of
the Master Fund (the "General Partner"), will increase by 4.2% p.a.
(see Note 1).
In addition, as part of the reset transaction, the documentation
of the investment has been updated to include ESG-focused
investment restrictions.
LEI: 2138008KETEC1WM5YP90
Enquiries:
Fair Oaks Income Limited
Email: contact@fairoaksincome.com
Web: www.fairoaksincome.com
Fair Oaks Capital Limited
Investor Relations
DDI: +44 (0) 20 3034 0400
Email: ir@fairoakscap.com
Praxis Fund Services Limited
Ben Le Prevost
DDI: +44 (0) 1481 755524
Email: Ben.LePrevost@praxisifm.com
Numis Securities Limited
Nathan Brown, Corporate Broking
DDI: +44 (0) 20 7260 1426
Email: n.brown@numis.com
Liberum Capital Limited
Chris Clarke, Investment Banking
DDI: +44 (0) 20 3100 2190
Email: chris.clarke@liberum.com
Fair Oaks Income Limited
Fair Oaks Income Limited is a registered closed-ended investment
company incorporated in Guernsey. The Company was admitted to
trading on the Specialist Fund Market of the London Stock Exchange
(now the Specialist Fund Segment of the Main Market of the London
Stock Exchange) on 12 June 2014.
The investment policy of the Company is to invest (either
directly and/or indirectly through FOIF II LP and FOMC III LP) 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.
Note 1: The General Partner's estimate of the potential total
return for this investment in calculated across certain scenarios
and subject to certain assumptions. This and any other references
herein to potential future returns or distributions are targets and
not forecasts and there can be no guarantee or assurance that they
will be achieved.
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END
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