Jan 23rd 2013 - Edison Investment Research today published a report on GLI Finance (GLIF.L, LSE:GLIF, LON:GLIF) entitled "10% Placing; Business As Usual". In summary, the report says:
Greenwich Loan Income Fund (GLIF) has announced the NAV at 31 December 2012 was 49.1p (49.7p end September) and a quarterly dividend of 1.25p (annualised yield just under 10%). It has also placed 11.9m new shares (10% of equity) at 50p, a 10% discount to the prior closing price. The funds will be used to fund an equity element to future funding vehicles. As in prior quarters all the CLO tests have been passed except for the fact that pre-payments continue to mean the fund is holding too much cash.
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