FOR IMMEDIATE RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, ANY MEMBER STATE OF THE EUROPEAN ECONOMIC AREA (OTHER THAN THE UNITED KINGDOM), AUSTRALIA, CANADA, SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DO SO.
27 October 2017
EJF Investments Ltd
Recent Investment Announcement
The Board of EJF Investments Ltd ("EJFI" or the "Company") is pleased to announce that the Company, through its wholly owned subsidiary, invested approximately $17.0 million (approximately £12.9 million (as converted using foreign exchange rates reported for the day the purchase occurred)) in the preferred shares (the "Risk Retention Investment") issued by TruPS Financials Note Securitization 2017-2 Ltd ("TFINS 2017-2") on 26 October 2017.
TFINS 2017-2 is a securitization of approximately $340.4 million of trust preferred securities, senior notes, subordinated notes, and surplus notes issued by 29 U.S. community banks and 23 U.S. insurance companies (collectively, the "Underlying Securities") with an aggregate par value of approximately $353.0 million. The Underlying Securities have a fixed-rate weighted average coupon of approximately 7.7 per cent. and a floating-rate weighted average spread of approximately 3.1 per cent. Additionally, the weighted average life of the Underlying Securities is approximately 11 years. TFINS 2017-2 has a final maturity date of September 2039, but will be callable beginning in 18 months from issuance at the option of the preferred shareholders, with mandatory auction calls beginning after eight years. Anticipated return scenarios estimate that the Risk Retention Investment will generate a gross return in the low double digits over the estimated life of the investment.
In addition to the Risk Retention Investment, the Company announces that during the month of October the Company sold four positions in its legacy REIT TrupS CDO portfolio, contributing a gain for the month of approximately $1.9 million (approximately £1.5 million (as converted using foreign exchange rates reported for the day the trades occurred)).
ENQUIRIES
For the Investment Manager
EJF Investments Manager LLC
Peter Stage / Hammad Khan
[email protected] / [email protected]
+44 203 752 6775 / +44 203 752 6771
For the Company Secretary and Administrator
Crestbridge Fund Administrators Limited
[email protected]
+44 1534 835 600
For the Broker
Henry Freeman / Gillian Martin / Ben Roberts
+44 20 3100 2000
About EJF Investments Limited
EJFI is a registered closed-ended limited liability company incorporated in Jersey under the Companies (Jersey) Law 1991, as amended, on 20 October 2016 with registered number 122353. The Company is regulated by the Jersey Financial Services Commission (the "JFSC"). The JFSC is protected by both the Collective Investment Funds (Jersey) Law 1988 and the Financial Services (Jersey) Law 1998, as amended, against liability arising from the discharge of its functions under such laws.
LEI: 549300XZYEQCLA1ZAT25
Investor information & warnings
The latest available information on the Company can be accessed via its website at www.ejfi.com.
This communication has been issued by, and is the sole responsibility of, the Company and is for information purposes only. It is not, and is not intended to be an invitation, inducement, offer or solicitation to deal in the shares of the Company. The price and value of shares in the Company and the income from them may go down as well as up and investors may not get back the full amount invested on disposal of shares in the Company. An investment in the Company should be considered only as part of a balanced portfolio of which it should not form a disproportionate part. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision.
