Blackstone / GSO Loan Financing has announced the result of its placing of Euro ordinary shares, which were issued under its placing programme. The Placing raised €72.8m (before costs and expenses) through the issue of 71,380,746 new Euro ordinary shares at a price of €1.02 per share. The Placing price represents a premium of approximately 2% to the unaudited NAV as at 31 January 2017, adjusted for the dividend declared on 20 January 2017 for the period to 31 December 2016 and the New Shares will be eligible for the dividend payable in respect of the period from 1 January 2017 to 31 March 2017. Following Admission, the Company will have 395,981,446 Euro shares in issue. The new shares are expected to be admitted to trading on 7 march 2017.
About Blackstone/GSO Loan Financing
Blackstone/GSO Loan Financing Limited invests, through Blackstone / GSO Corporate Funding Limited, in a portfolio of assets comprising predominantly of European senior secured loans and the most subordinated tranches of debt issued by collateralised loan obligations (“CLOs”, such tranches being “CLO Income Notes”) issued by CLOs that are managed by Blackstone / GSO Debt Funds Management Europe Limited. Blackstone/GSO Loan Financing Limited is targeting an annual dividend of 8 per cent, with expectation for progressive growth, and a mid-teen total return over the medium term.
Blackstone / GSO Loan Financing raises €72.8m from placing : BGLF