Eurocastle Investment Limited: Eurocastle Announces Sale of Senior Notes of FINO 1 Securitisation S.r.l. and Follow on Inves...
26 Gennaio 2018 - 8:00AM
Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481
723450
Eurocastle
Announces Sale of Senior Notes of FINO 1 Securitisation
S.r.l.
and Follow on Investment in FINO NPL
Portfolio
Guernsey, 26 January 2018 -
Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company")
today announces that the Company has raised approximately €48
million of net proceeds through the sale of its share of the senior
notes of FINO 1 Securitisation S.r.l., one of the two
securitisations that collectively own the FINO non-performing loan
portfolio acquired from UniCredit S.p.A.
The senior notes are guaranteed by
the Italian state under the program commonly known as "GACS" and
are therefore seen as an extremely attractive form of
financing.
In addition, Eurocastle expects to
close on its previously announced follow-on investment of €8.4
million in the junior notes of the two FINO securitisations early
next week.
This additional investment brings
the Company's total investment to date in the FINO portfolio to
approximately €52 million, of which approximately €48 million has
now been financed through the sale of the senior notes in FINO 1.
An additional deferred purchase price of €64.7 million is payable
over the next few years.
ABOUT
EUROCASTLE
Eurocastle Investment Limited is a
publicly traded closed-ended investment company that focuses on
investing in performing and non-performing loans and other real
estate related assets primarily in Italy. The Company is Euro
denominated and is listed on Euronext Amsterdam under the symbol
"ECT". Eurocastle is managed by an affiliate of Fortress Investment
Group LLC, a leading global investment manager. For more
information regarding Eurocastle Investment Limited and to be added
to our email distribution list, please visit
www.eurocastleinv.com.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Eurocastle Investment Limited via
Globenewswire
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