ICG-Longbow SSUP - Dividend cover restored
ICG-Longbow Senior Secured UK Property Debt Investments (LBOW) provides exposure to the UK real estate debt market through investments in senior secured whole loans. Recently, the company has successfully completed its portfolio transition under the revised investment strategy (adopted in 2017). As a result, its current weighted average coupon rate of 7.11% pa (at end-October 2019), together with contractual arrangement and exit fees, should generate sufficient income to cover the targeted dividend payout of 6p per annum (translating into a c 6% dividend yield).ICG-Longbow Senior Secured UK Property Debt Investments is a closed-ended investment company engaged principally in investing in senior secured debt investment. Co. is focused on constructing a portfolio of U.K. real estate debt related investments predominantly comprising loans secured by first ranking fixed charges against commercial property investments. Co. makes investments in its portfolio through ICG-Longbow Senior Debt S.A., Co.'s wholly owned subsidiary.
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