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ICG-Longbow SSUP (LBOW)

Business description

ICG-Longbow SSUP focuses on constructing a portfolio of UK real estate debt-related instruments, mainly comprising whole loans secured by first ranking fixed charges against commercial property investments. It aims at providing attractive, quarterly dividends totalling 6p annually, capital preservation and a degree of capital gains in the long term. LBOW was launched in February 2013 and its investing strategy was revised in March 2017 allowing for higher LTV loan investments.

Stock data

Market cap.£122.5m
Last close101.00p
High / Low (52 weeks)105.5p / 100.2p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual0.5(3.4)(1.7)
Relative *5.94.86.6

* % Relative to local index

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Latest research

Investment summary

ICG-Longbow Senior Secured UK Property Debt Investments (LBOW) offers investors exposure to the UK real estate debt market, mainly through investments in senior secured whole loans. LBOW’s investment strategy is supported by the team’s deep expertise in both debt and UK real estate, enabling it to continue to pay a high stable dividend by investing in higher LTV loans, while controlling the risk through extensive analysis of the underlying properties’ cash flow generation potential, as well as the borrower’s business plan. The investment strategy should be assisted by the relatively favourable rental growth prospects in parts of the regional UK real estate market.

Last updated on 19/11/2018

Key management

Jack Perry, Chairman

Company address

PO Box 225, Heritage Hall
Le Marchant Street, St Peters Port
GY1 4HY
United Kingdom
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