NB Distressed Debt : NBDD and NBDX – capital distributions

NB Distressed Debt is ready to make its first distributions to shareholders. These will be done via compulsory redemptions of shares – $28m in the case of NBDD (the original fund) or $0.2255 per share and $20.9m in the case of NBDX (the continuation fund) or $0.0593 per share. For NBDD the money comes from the exits they achieved in the portfolio between the 10 June 2013 (three years after the IPO) and 31 December 2013 plus any spare cash they had. For NBDX, which is still making investments and will do so until 31 March 2015, the money represents the capital profits they achieved on exits to date. Shareholders will get paid on 12 February 2014 and the next payments will come in July 2014.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please review our cookie, privacy & data protection and terms and conditions policies and, if you accept, please select your place of residence and whether you are a private or professional investor.

You live in…

You are a…