Monthly Shareholder Fact Sheet
(Thomson Reuters ONE) - CQS Rig Finance Fund Limited: Monthly Shareholder Fact Sheet CQS RIG FINANCE FUND LIMITED Monthly Shareholder Fact SheetCQS Rig Finance Fund Limited (the "Company") a closed-endedinvestment company incorporated in Guernsey, is pleased to announcethat its Monthly Fact Sheet for October 2009 is now available onthe Company's website and includes information on the top teninvestments and outstanding borrowings:www.cqsrigfinance.comDuring October, the price of WTI crude continued its upward trendtrading between US$71 and US$81 and ending the month at US$77 perbarrel. Equity levels were range-bound during the month with aninitial rally tailing off as the earnings season got into full swingand as November approached. The high yield bond market was lessvolatile than in previous months with the ML Euro High Yield Indexreturning c.2%.In the FPSO sector, EOC Limited announced that it has been awarded acontract at Premier Oil's Chim Sao project in Vietnam. The contracthas a firm period of 6 years and options of up to 6 years. The valueof the firm period is approximately US$527 million, equivalent to aday rate of c.US$240,000. This contract is the third FPSO contractawarded in 2009 and it is encouraging to see long term contracts atfirm day-rates such as these being awarded.The Company's portfolio recorded gains over the month related to anumber of its positions.Master Marine ASA finalized its restructuring plan. The Company helda position of EUR2million in the bonds. The plan resulted in arecovery to bondholders of approximately 67%, of which 58% isscheduled to be received in cash in three instalments prior to yearend 2009. The remaining 9% is in the form of equity shares in MasterMarine ASA. More details of the company refinancing can be found onthe website www.master-marine.no.Mark-to-market gains on the month were recorded once more on theposition in Nexus Floating Production Ltd as further progress wasreported to have been made towards the sale of the vessel.Gains were also recorded in the three bonds issued by Skeie Drilling& Production ASA. After the recent financial restructuring, themarket has become more optimistic about the prospects for the 3 giantjack-up rigs being built in Singapore.All market data is sourced from Bloomberg and Pareto. Companyinformation is sourced from relevant company websites.For further information, please contact:Lynette LeProvostSecretaryKleinwort Benson (Channel Islands) Fund Services Limited01481 727111Alastair MoretonDirector, Corporate FinanceArbuthnot Securities020 7012 2000---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 24.11.2009 - 14:24 Uhr
Sprache: Deutsch
News-ID 8787
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Business News
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