LONDON (Thomson Financial) - ACP Mezzanine Ltd. said it plans to raise 80
million euros via a secondary placing of 133.33 million shares at 0.60 euro each
to new and existing institutional investors.
The closed-ended investment company said the fundraising will allow it to
complete the acquisition of several identified lending opportunities in the SME
(small and medium enterprise) sector within its core markets.
In addition to the capital raised in this fundraising, the company intends
to use its existing committed leverage facilities, which currently amount to
about 150 million euros, and the proposed seven-year senior debt facility of
about 215 million euros to fund these opportunities.
ACP Mezzanine said it expects to achieve by the year-end an annualised
dividend yield in excess of 17.5 percent based on the placing price of 0.60 euro
per share.
The company also declared an interim dividend of 3.75 cents in respect of
the five months ended May 31, 2008.
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