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GLI Finance : GLIF – disposal of CLO investments

GLI Finance has announced that, following a successful placing and offer for subscription by Fair Oaks Income Fund, GLI has exchanged its holdings in its two remaining CLO investments for $20.4m in cash and 34,298,425 shares in Fair Oaks Income Fund (issued at $1). The total value of the CLO investments at 3 June (the date used to value them for the purposes of this transaction, was $54,723,772.

The shares in Fair Oaks Income Fund are subject to a two year lock-in arrangement.

The cash proceeds will be applied to GLI Finance’s other lending businesses.

James Carthew, who wrote this post, is a director of GLI Finance Limited

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