NB Private Equity Partners Indicative Terms of a Zero Dividend
Preference Share Issue
(Thomson Reuters ONE) - 7 October 2009NB Private Equity Partners Limited (the "Company") announced on 28August 2009 that it was considering proposals to issue a new class ofZero Dividend Preference Shares ("ZDP Shares") later this year. TheBoard, having further considered the proposed ZDP Share issue, istoday announcing key indicative terms of the proposed ZDP Shareissue.Reasons for the ZDP Share IssueThe Board continues to believe that NBPE's current capital positionis strong and that the Company's existing private equity portfolio iswell-positioned to generate attractive returns over the long term.However, additional capital from a ZDP Share issue would provide anumber of additional benefits to the Company.The Board believes that a number of potentially attractive investmentopportunities, including secondary and distressed investments, areaccessible in the current market environment and that opportunitiesfor attractive investments will continue to be available over thenext one to two years. The issue of ZDP Shares would allow theCompany to further enhance its capital position as well as provideadditional resources to take advantage of these market opportunitiesthrough targeting selected investments over a period of time.Key Indicative Terms*The Company is proposing the following key indicative terms inrelation to the ZDP Shares: * Gross Redemption Yield of 7.3 per cent * ZDP Share Life of 7.5 years (to 31 May 2017) * Initial Asset Cover of approximately 4 times*Proposed terms of the ZDP Shares are indicative only and subject tochange. Initial Asset Cover reflects the ratio of net assets to theassets required to pay the final entitlement.Subject to market conditions it is expected that the final terms ofthe ZDP Shares and the target size of the issue will be announced indue course.For further information, please contact:NBPE Investor Relations +1 214 647 9593Oriel Securities +44 20 7710 7600Joe WinkleySapna ShahFinancial Dynamics +44 20 7269 7114Robert BailhacheNick HendersonAbout NB Private Equity Partners LimitedNBPE is a closed-end private equity fund of funds investment companyadmitted to trading on Euronext Amsterdam and the Specialist FundMarket of the London Stock Exchange. NBPE holds a diversifiedportfolio of private equity fund investments and directco-investments selected by the NB Alternatives group of NeubergerBerman, diversified across private equity asset class, geography,industry, vintage year and sponsor.www.nbprivateequitypartners.comThis press release appears as a matter of record only and does notconstitute an offer to sell or a solicitation of an offer to purchaseany security.NBPE is established as a closed-end investment company domiciled inGuernsey. NBPE has received the necessary consent of the GuernseyFinancial Services Commission and the States of Guernsey PolicyCouncil. NBPE is registered with the Dutch Authority for theFinancial Markets as a collective investment scheme which may offerparticipations in The Netherlands pursuant to article 2:66 of theFinancial Markets Supervision Act (Wet op het financial toezicht).All investments are subject to risk. Past performance is no guaranteeof future returns. The value of investments may fluctuate. Resultsachieved in the past are no guarantee of future results. Thisdocument is not intended to constitute legal, tax or accountingadvice or investment recommendations. Prospective investors areadvised to seek expert legal, financial, tax and other professionaladvice before making any investment decision. Statements contained inthis document that are not historical facts are based on currentexpectations, estimates, projections, opinions and beliefs of NBPE'sinvestment manager. Such statements involve known and unknown risks,uncertainties and other factors, and undue reliance should not beplaced thereon. Additionally, this document contains "forward-lookingstatements." Actual events or results or the actual performance ofNBPE may differ materially from those reflected or contemplated insuch targets or forward-looking statements.Oriel Securities Limited ("Oriel") is acting for NBPE and no-one elsein connection with NBPE and will not be responsible to anyone otherthan NBPE for providing the protections afforded to customers ofOriel or for providing advice in relation to NBPE.---END OF MESSAGE---http://hugin.info/137843/R/1346080/323254.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.10.2009 - 08:01 Uhr
Sprache: Deutsch
News-ID 6656
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