In QuotedData’s morning briefing 25 August 2023:
- NB Distressed Debt Investment Fund (NBDD) has made a $3.7m capital distribution for its extended life share class, the NBDX shares. This was achieved via a compulsory partial redemption of NBDX shares at a price equal to $1.0314 per share, with 7.6% of share capital being redeemed.
- Blackstone Loan Financing (BSLF) has announced that it will host an extraordinary general meeting on 15 September 2023. The purpose of this will be to amend the investment objective and policy to facilitate the managed wind-down, and to restructure the existing share class to allow capital to be returned to investors in an effective manner. The board’s advisors believe that given the complex and illiquid nature of BSLF’s holdings, the wind down process may take at least 7 years.
- Capital & Regional (CAL) has announced the results of its open offer, which intended to raise £25m via new share issuance to finance its purchase of The Gyle Shopping Centre. CAL initially received offers for 75% of the total shares it made available. Growthpoint, the largest share holder in CAL, purchased the remaining shares of the open offer, increasing its stake in the trust to 67.6%. CAL has raised sufficient capital to complete its acquisition.