Third Point Investors Ltd TPIL Announcement on Gearing Facility

 
TIDMTPOU TIDMTPOS 
 
31 May 2023 
 
TPIL Announcement on Gearing Facility 
 
This announcement contains inside information. 
 
The Board of Third Point Investors Limited ("TPIL" or the "Company") announces 
that it intends to discontinue the use of its gearing facility, effective 2 June 
2023. 
 
TPIL originally entered into a credit facility, pursuant to which it borrowed up 
to $150 million at a rate of LIBOR plus 2.4%, for a period of two years starting 
on 1 September 2021. In consultation with the Investment Manager, the Board made 
the decision to: 1) submit a redemption from the Master Fund in the amount of 
$151.7 million, which covers principal plus accrued interest, and 2) use these 
proceeds to repay the loan on 2 June 2023. 
 
The Board chose to do so before the end of the two-year term so as to save on 
additional interest expense, and there is no prepayment fee associated with this 
action. 
 
- Ends - 
 
  Press Enquiries 
 
Third Point                         Buchanan 
 
Elissa Doyle, Chief Communications  Charles Ryland 
Officer and Head of ESG Engagement 
                                    charlesr@buchanan.uk.com 
edoyle@thirdpoint.com 
                                    Tel: +44 (0)20 7466 5107 
Tel: +1 212-715-4907 
                                    Henry Wilson 
 
                                    henryw@buchanan.uk.com 
 
                                    Tel: +44 (0)20 7466 5111 
 
Notes to Editors 
 
About Third Point Investors Limited 
 
www.thirdpointlimited.com 
 
Third Point Investors Limited (LSE: TPOU) was listed on the London Stock 
Exchange in 2007 and is a feeder fund that invests in the Third Point Offshore 
Fund (the Master Fund), offering investors a unique opportunity to gain direct 
exposure to founder Daniel S. Loeb's investment strategy. The Master Fund 
employs an event-driven, opportunistic strategy to invest globally across the 
capital structure and in diversified asset classes to optimize risk-reward 
through a market cycle. TPIL's portfolio is 100% aligned with the Master Fund, 
which is Third Point's largest investment strategy. TPIL's assets under 
management are currently $600 million. 
 
About Third Point LLC 
 
Third Point LLC is an institutional investment manager that actively engages 
with companies across their lifecycle, using dynamic asset allocation and an 
ethos of continuous learning to drive long-term shareholder return. Led by 
Daniel S. Loeb since its inception in 1995, the Firm has a 37-person investment 
team, a robust quantitative data and analytics team, and a deep, tenured 
business team. Third Point manages approximately $12.2 billion in assets for 
sovereign wealth funds, endowments, foundations, corporate & public pensions, 
high-net-worth individuals, and employees. 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END

(END) Dow Jones Newswires

May 31, 2023 06:00 ET (10:00 GMT)

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