Tetragon Financial Group Limited (TFG) Monthly Update for January 2012
LONDON, February 20, 2012 /PRNewswire/ --
Tetragon Financial Group Limited (TFG) is a Guernsey closed-ended investment company traded on Euronext Amsterdam by NYSE Euronext under the ticker symbol "TFG".
In this monthly update, unless otherwise stated, we report on the consolidated business incorporating TFG and Tetragon Financial Group Master Fund Limited.
Net Asset Value Estimates as of January 31, 2012
(Amounts provided are unaudited and subject to change)
(in millions except per
share data)
Estimated Fair Value of Investments: $1,261.5
Cash and Cash Equivalents: $238.1
Net Other Assets/ (Liabilities): $(17.6)
Estimated Net Asset Value: $1,482.0
TFG Shares Outstanding: 132.1
Net Asset Value per Share: [2] $12.83
For further information, please
contact:
[1] TFG invests substantially all its capital through a master fund, Tetragon Financial Group Master Fund Limited (“TFGMF”) in which it holds a 100.0% share.
[2] Excludes 8.1 million shares held in treasury and 8.5 million shares held by a subsidiary.
CLO Equity & Direct Loan Portfolio Composition
CLO Equity & Direct Loan Portfolio Held by Tetragon Financial Group Master Fund Limited
(unless otherwise stated)
As of January 31, 2012
Tetragon Financial Group Ltd
Snapshot of CLO Equity& Direct Loan Portfolio Held by TFG Master Fund Limited
(unless otherwise stated)
as of January 31, 2012
TFG
group TFG
TFG Net group
Share Market Net
Price Cap Assets No. of Closed CLO
Report Date ($) ($MM)[1] ($MM) Equity Transactions
31 January 2012 $6.45 $745.3 $1,482.0 78 [2]
Risk Investment
Capital Fair Value
Capital Allocation by Asset Class Allocation ($MM)[3)(4]
Broadly Syndicated Senior Secured Loans: US 76.4% $954.0
Broadly Syndicated Senior Secured Loans: Europe 9.3% $116.3
Middle Market Senior Secured Loans: US 14.3% $178.4
CDOs Squared: US 0.0% $0.0
ABS and Structured Finance: US 0.0% $0.0
Total 100.0% $1,248.8
Asia
Geographic Allocation by Asset Class USA Europe Pacific Total
Broadly Syndicated Senior Secured Loans 89.1% 10.9% 0.0% 100.0%
Middle Market Senior Secured Loans 100.0% 0.0% 0.0% 100.0%
CDOs Squared 0.0% 0.0% 0.0% 0.0%
ABS and Structured Finance 0.0% 0.0% 0.0% 0.0%
90.7% 9.3% 0.0% 100.0%
Bank
Loan
Exposure Top 10 Bank Loan Industry Exposures
Top 15 Underlying Bank Loan Credits [5] [5]
Univision Communications 0.95%
First Data Corp 0.84%
UPC Broadband 0.83%
HCA Inc 0.82%
Community Health 0.81%
Charter Communications 0.72%
SunGard Data Systems Inc 0.71%
Federal-Mogul 0.70%
Las Vegas Sands 0.69%
Aramark Corp 0.68%
Sabre Holdings Corp 0.67%
Cablevision Systems Corp 0.65%
Huntsman ICI 0.62%
Nielsen Company 0.60%
TXU Corp 0.59%
[1] Calculated using TFG shares outstanding (net of 8.1 million shares held in
treasury and 8.5 million shares held by a subsidiary) and month end exchange
price.
[2] Excludes CDO-squared and ABS CDO transactions which were written off in
October 2007. TFG continues to hold the economic rights to 3 of these
written-off transactions. Excludes TFG's investments in CLO mezzanine tranches.
[3] Excludes TFG's investments in LCM Asset Management LLC, GreenOak Real Estate LP
and GreenOak related funds or investments, and CLO mezzanine tranches.
[4] Equivalent to Investment in Securities at Fair Value in the US GAAP Financial
Statements.
[5] Includes par amount of loans held directly by TFG and also loan exposures via
TFG's CLO equity tranche investments. With respect to CLO equity tranche
investments, calculated as a percentage of total corporate loan assets that TFG
has exposure to based on its equity-based pro-rata share of each CLO's total
portfolio. All calculations are net of any single name CDS hedges held against
that credit.
TOP 10 INDUSTRY
Healthcare, Education & Childcare 12.1%
Broadcasting & Entertainment 8.4%
Diversified/Conglomerate Service 6.7%
Telecommunications 6.3%
Retail Stores 6.1%
Chemicals, Plastics & Rubber 4.7%
Finance 4.0%
Printing & Publishing 3.8%
Electronics 3.8%
Automobile 3.6%
Expected Upcoming Events Date
Q3 Dividend Payment Date November 18, 2008
Bank of America Credit Conference (Florida) November 20, 2008
FBR Global Equity Conference (New York) December 3, 2008
November 2008 Monthly Report December 16, 2008 (approx)
Tetragon Financial Group Limited (TFG)
Monthly Update For January 2012
Expected Upcoming Events Date
Q4 2011 Dividend Announcement Date March 5, 2012 (approx)
2011 Audited Financial Statements Reported March 6, 2012 (approx)
Q4 2011 Dividend (Ex- date) March 6, 2012
Q4 2011 Dividend Record Date March 8, 2012
Quarterly Investor Call March 9, 2012
February 2012 Monthly Report March 20, 2012 (approx)
Q4 2011 Dividend Payment Date March 28, 2012
This release does not contain or constitute an offer to sell or a solicitation of an offer to purchase securities in the United States or any other jurisdiction.] The securities of TFG have not been and will not be registered under the US Securities Act of 1933 (the "Securities Act"), as amended, and may not be offered or sold in the United States or to US persons unless they are registered under applicable law or exempt from registration.] TFG does not intend to register any portion of its securities in the United States or to conduct a public offer of securities in the United States.] In addition, TFG has not been and will not be registered under the US Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act.] TFG is registered in the public register of the Netherlands Authority for the Financial Markets under Section 1:107 of the Financial Markets Supervision Act ("FMSA") as a collective investment scheme from a designated country. This release constitutes regulated information ("gereglementeerde informatie") within the meaning of Section 1:1 of the FMSA.
TFG:
David Wishnow/Yuko Thomas
Investor Relations
ir@tetragoninv.com
Press Inquiries:
Brunswick Group
Andrew Garfield/Gill Ackers/Pip Green
+44-(0)20-7404-5959
tetragon@brunswickgroup.com
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