EUROCASTLE INVESTMENT LIMITED Contact:
International Administration Group (Guernsey) Limited
Company Administrator
Attn: Mark Woodall
Tel: +44 1481 723450
Eurocastle Announces Sale of Senior Notes of FINO 1 Securitisation S.r.l.
and Follow on Investment in FINO NPL Portfolio
Guernsey, 26 January 2018 - Eurocastle Investment Limited (Euronext Amsterdam: ECT) ("Eurocastle" or the "Company") today announces that the Company has raised approximately €48 million of net proceeds through the sale of its share of the senior notes of FINO 1 Securitisation S.r.l., one of the two securitisations that collectively own the FINO non-performing loan portfolio acquired from UniCredit S.p.A.
The senior notes are guaranteed by the Italian state under the program commonly known as "GACS" and are therefore seen as an extremely attractive form of financing.
In addition, Eurocastle expects to close on its previously announced follow-on investment of €8.4 million in the junior notes of the two FINO securitisations early next week.
This additional investment brings the Company's total investment to date in the FINO portfolio to approximately €52 million, of which approximately €48 million has now been financed through the sale of the senior notes in FINO 1. An additional deferred purchase price of €64.7 million is payable over the next few years.
ABOUT EUROCASTLE
Eurocastle Investment Limited is a publicly traded closed-ended investment company that focuses on investing in performing and non-performing loans and other real estate related assets primarily in Italy. The Company is Euro denominated and is listed on Euronext Amsterdam under the symbol "ECT". Eurocastle is managed by an affiliate of Fortress Investment Group LLC, a leading global investment manager. For more information regarding Eurocastle Investment Limited and to be added to our email distribution list, please visit www.eurocastleinv.com.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eurocastle Investment Limited via Globenewswire
