ICG-Longbow has used a stock market update to reassure investors over the effect of the spreading coronavirus on the lending markets and its business.
In a portfolio update for ICG-Longbow Senior Secured UK Property Debt Investments, the company said: “While the extent and duration of the Covid-19 outbreak and its impact on financial and lending markets cannot be forecast, in the board’s view the company’s portfolio remains well secured and is well placed to weather the current disruption and capitalise on any attractive opportunities which may result.”
The firm said that when an imminent three-year loan of £7.75m on a North West industrial estate is complete, its portfolio will include 10 investments totalling commitments of £115.1m, with an LTV of 67.9%.
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