Business
CLO Test Results
CLO Test Results.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 9566C Greenwich Loan Income Fund Ltd 15 March 2011 \n \n\nGreenwich Loan Income Fund Limited (\"GLIF\" or the \"Company\")\n \nCLO Test Results\n\n 15 March 2011\n \nThe Company announces the test results as of 2 March 2011 pursuant to the indenture of T2 Income Fund CLO I Ltd (the \"CLO\"), of which the Company owns all of the residual economic interest. The report summarising the results of those tests can be found at the link below:\n \nhttp://www.rns-pdf.londonstockexchange.com/rns/9566C_-2011-3-15.pdf\n \nWith respect to the various tests required under the CLO indenture, the CLO passed all of the covenant and percentage limitation tests. While the current month's results are not controlling as to the April 2011 payment test, it may be worth noting that had this been a payment period, there would have been no interest diversion and a full payment would have been paid to the Company.\n \nAs described in previous press releases, the CLO indenture contains a variety of covenants, compliance with which could be made more difficult or impossible should credit markets deteriorate or the loans held by the CLO fail to make expected payments or otherwise not perform, or for a variety of other reasons, and which if violated could result in additional principal paydowns of the CLO's notes and/or interest diversion. \n \nContacts:\n \nGeoffrey Miller\nGreenwich Loan Income Fund Limited\n+353 1 4433 466\n \nPatrick Conroy\nGreenwich Loan Income Fund Limited\n+1 203 983 5282\n \nPhilip Secrett\nNominated Adviser\nGrant Thornton Corporate Finance\n+44 (0) 20 7383 5100\n \nJames Maxwell\nSinger Capital Markets Limited \n+44 (0) 20 3205 7622\n \nEd Gascoigne Pees\nFinancial Dynamics\n+44 (0) 20 7269 7132\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCGCGDXSUBBGBU\n\n \n ","length":3806,"tagName":"div"}]