CB structure lures third UK fund issuer
City Natural Resources High Yield Trust, a £262m closed end fund managed by New City Investment Managers, this week turned to a convertible bond structure to widen its appeal to potential shareholders. It’s the third fund to use the convertible unsecured loan stock (CULS) structure in the UK, following deals from Standard Life and Aberdeen-managed funds.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts