Business
CLO test results
CLO test results.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n RNS Number : 4429U Greenwich Loan Income Fund Ltd 15 October 2010 \n \n\nGreenwich Loan Income Fund Limited (\"GLIF\" or the \"Company\")\n \nQuarterly CLO Test Results\n \n15 October 2010\n \nThe Company announces the test results as of 4 October 2010 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/4429U_-2010-10-14.pdf\n \nThe quarterly results as of 4 October 2010 indicate that the CLO met all of the covenant tests necessary for a full interest payment to be made to the Company, and approximately US$2.7 million has been received from the trustee. The CLO also passed all of the percentage limitation tests. It should be noted that these results do not reflect the acquisition of Stratus equity from the CLO by the Company, as that transaction is pending at 4 October 2010. It is expected that the transaction will be completed before the next monthly test results.\n \nAs described in previous press releases, the CLO indenture contains a variety of covenants, compliance with which, as well as curing existing defaults, 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 \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 UK LLP\n+44 (0) 20 7383 5100\n \nJames Maxwell\nSinger Capital Markets Limited \n+44 (0) 20 3205 7623\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 MSCBIBDGBGBBGGS \n ","length":3921,"tagName":"div"}]