NB Global Monthly Income accelerates cash exit timetable

8 August

Kathleen Gallagher
clock • 1 min read
A single payment will be made on 8 August
Image:

A single payment will be made on 8 August

The board of the £185.5m NB Global Monthly Income trust has updated its timetable for its cash exit and redemption following “faster than anticipated settlement of trades”.

On 1 June, the investment trust announced it would implement a tender offer for a cash exit as previously described in a shareholder circular published in August 2020. The original timetable was for proceeds to be paid in two instalments, the first on 1 September and the second on 23 November. However the company now has sufficient cash and therefore will make a single redemption proceeds payment on 8 August. The board said it "intends to maintain an more conservative stance on indicating speed of repayment" for future tenders, but will "make every effort" to pay ahead of schedule. ...

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