CVC Credit Partners European Opportunities has announced the result of its placing of sterling and euro treasury shares (originally announced on 19 May 2017).
The Company has raised £77.55 million and €13.87 million from the sale of sterling and euro treasury shares respectively. It says that it will therefore sell, from treasury, 69,197,176 Sterling ordinary shares at a price of £1.1207 per share and 12,608,528 million Euro ordinary shares at a price of €1.0994 per share. It says that the sale prices, for each share class, are equal to a 0.75% premium to the last-published cum-income NAV per share.
The company says that, after the placing of the treasury shares, there will be 271,808,145 Sterling ordinary shares in issue and 1,042,662 Sterling treasury shares remaining and 129,755,983 Euro ordinary shares in issue and 97,392,771 Euro treasury shares remaining.
Chairman delighted with market cap increase
Richard Boleat, the Chairman of CVC Credit Partners European Opportunities, says that “we are delighted to have significantly increased the market capitalisation of the Company through this placing, and are particularly pleased to have broadened the Company’s investor base with a number of new institutional investors and wealth managers joining the share register.”
About CVC Credit Partners European Opportunities
CVC Credit Partners European Opportunities investment policy is to invest predominantly in companies domiciled, or with material operations, in Western Europe across various industries. The Company’s investments are focused on senior secured obligations of such companies but investments are made across the capital structure of such borrowers.
The Company pursues its investment policy by investing the net proceeds of its share issues in CVC Credit Partners European Credit Opportunities S.A.R.L, which is CVC Credit Partners’ existing European credit opportunities investment vehicle.
CVC Credit Partners European Opportunities raises £77.55 million and €13.87 million from treasury share sale : CCPG, CCPE