ICG Longbow says Lanos loan repaid in full

ICG Longbow says that the borrower under the Group’s Lanos (York) loan has completed a refinancing of the property which provided security for the Group’s loan.  As a result, the GBP10 million loan has been repaid in full, together with accrued interest, exit and prepayment fees of approximately GBP1.1 million in aggregate.

The Investment Manager is seeking to reinvest these proceeds under the Group’s new investment policy.

One small investment they have made is to advance a further GBP500,000 to the borrower of the Group’s Northlands loan, to progress capital expenditure works and meet certain corporate costs.  The increase is on substantially the same terms and conditions as the existing loan.

LBOW : ICG Longbow says Lanos loan repaid in full

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