Source - LSE Regulatory
RNS Number : 6289P
Blackstone Loan Financing Limited
10 February 2023
 

10 February 2023

 

Blackstone Loan Financing Limited

(the "Company")

 

Non-material change to Investment Policy

 

The board of directors of the Company (the "Board") announces that Blackstone Corporate Funding Designated Activity Company ("BCF") has notified the Board of a proposed change to BCF's investment policy. Under the Company's published investment policy, which has remained unchanged since inception and is set out in the most recent Annual Report, it is the intention of the Company that the investment policies of each of its Substantial Underlying Companies (meaning underlying companies to which the Company has an exposure of at least 20 per cent. of its gross assets, and which includes BCF) shall mirror that of the Company. The Board therefore announces a corresponding change to the Company's own investment policy.

The proposed change to the investment policy will provide that BCF (or an underlying company through which it invests) may now also hold minority equity positions in addition to majority equity positions and /or debt positions in European and US collateralised loan obligations ("CLOs"), which for the avoidance of doubt, would all be in Blackstone managed and controlled CLOs. Accordingly, BCF (or any underlying company through which it invests) may not be the risk retention provider in respect of certain CLOs in which it comes to hold a minority equity position (in such circumstances, the risk retention will be held by another Blackstone affiliated entity in compliance with UK and European risk retention rules).

Subject to finalisation of the relevant changes, it is expected that the changes to the investment policy will take effect on or around 24 February 2023 (the "Effective Date").

The Board notes that the expected risk/return profile of the Company's investments held via BCF will continue to be substantially the same following the Effective Date and accordingly is of the view that this does not amount to a material amendment to the Company's existing investment policy.

For the avoidance of doubt, the proposed change described above is not connected to the shareholder consultation announced on 26 January 2023.

 

Enquiries:

 

Blackstone Loan Financing Limited

Charlotte Valeur, Chair

 

via BNP Paribas

BNP Paribas

 

01534 709178 / 813873

Singer Capital Markets

James Maxwell / Alaina Wong (Corporate Finance)

Alan Geeves / Sam Greatrex (Sales)

 

020 7496 3000

 

Winterflood Investment Trusts

Neil Langford (Corporate Finance)

Darren Willis (Sales)

020 3100 0000

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCEAKAEFFEDEFA
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Blackstone Loan Financing Limited (BGLF)

+€0.02 (+3.45%)
delayed 16:15PM