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ICG Longbow : LBOW – new loan and fund raising

ICG Longbow has made its tenth loan – £8m to Quay Hotels, secured against the Ramada Encore Hotel in Gateshead. With the deal concluded ICG Longbow would have invested slightly more than all the proceeds of its original issue. It has today issued 3.6m shares at 102p per share to cover the shortfall. Following the deal the average yield on the company’s loans is 7.39%

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