Toro Limited Originated Transactions Strategy (1107H)
12 Août 2016 - 6:30PM
UK Regulatory
TIDMTORO
RNS Number : 1107H
Toro Limited
12 August 2016
Toro Limited ("Toro" or the "Company")
12 August 2016
Toro Invests in an Originator
Toro has increased its investment in an originator, Taurus
Corporate Financing LLP ("Taurus"), a Guernsey limited liability
partnership, in relation to the Originated Transactions Strategy of
the Company, via two investments in loan warehouse transactions of
EUR 23 million and EUR 12 million respectively. Taurus has agreed
to act as the originator for, and will hold risk retention
securities in, a CLO for which the investment manager is Chenavari
Investment Managers.
In consideration of acting as the risk retainer and originator,
Taurus will receive, among other benefits, a 100 per cent fee
rebate of the investment manager's management fees (excluding
performance or incentive payments) in proportion to the risk
retention securities it holds of the relevant class. This benefit
enhances the returns available from originated transactions,
consistent with Toro's investment strategy.
Separately, Taurus entered into an asset-based lending
arrangement with a major European bank secured by a portfolio of
European corporate exposures.
Copies of the prospectus are available in electronic form on the
Company's website at www.torolimited.gg.
Enquiries:
Kirstie McLaren
Chenavari Investment Managers
Email: tlir@chenavari.com
Telephone: +44 20 7259 3600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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