QuotedData’s morning briefing 14 December 2023 – JZCP, MNKS, AWEM

In QuotedData’s morning briefing 14 December 2023:

• JZ Capital Partners (JZCP) is getting $62.5m in connection with the sale of Felix Storch from the portfolio of secondary investments that it sold in 2020. It had the right to share in distributions from that fund above an agreed limit. The transaction adds 19 cents to its NAV. The money will be used to repay its $45m facility provided by White Horse Capital. That is the last of its borrowing and so it can now start thinking about making distributions to its shareholders.
• The Monks Investment Trust (MNKS) has issued £74m of fixed rate, senior, unsecured privately placed notes, denominated in Euros and Japanese Yen, over periods ranging from 7 to 14 years and a  weighted average interest rate of 3.96%. The new privately placed notes have been issued in four tranches: €18m with a fixed coupon of 4.30% to be repaid in 2030; €35m with a fixed coupon of 4.29% to be repaid in 2033; €18m with a fixed coupon of 4.55% to be repaid in 2035; and JPY2,500m with a fixed coupon of 2.17% to be repaid in 2037. Coupons will be payable semi-annually. The funding date for all tranches is 12 December 2023.
• Ashoka White Oak Emerging Markets (AWEM) has got off to a reasonably good start, outpeforming its benchmark by 1.1% in its initial interim report to end September 2023.