Intention to Raise Capital

RNS Number : 3472Q

CVC Credit Partners European OpsLtd

05 June 2018

5 June 2018

CVC CREDIT PARTNERS EUROPEAN OPPORTUNITIES LIMITED (the "Company")
(a closed-ended investment company incorporated in Jersey with registration number 112635)
Registered Office: IFC 1, The Esplanade, St Helier, Jersey, JE1 4BP

Intention to Raise Capital

The Company announces that it is undertaking a placing (the "Placing") of the Company's shares that are currently held in treasury (the "Treasury Shares"). The Placing follows an extended period of strong performance by the Company, providing shareholders with total returns over three years of 23 per cent. and 21 per cent. for the Sterling Shares and the Euro Shares respectively. Additionally, the Company has traded at an average premium of just over 1 per cent. over the last 12 months, which has seen the Company sell 28.4 million Treasury Shares to meet market demand during that period (this excludes 81.8 million Treasury Shares sold pursuant to a placing in June 2017).

The Company currently holds 21,449,133 Sterling Treasury Shares and 51,564,426 Euro Treasury Shares. It is intended that, ahead of the Placing close, the Company will convert all but 10,000,000 Euro Treasury Shares into Sterling Treasury Shares. Through the Placing the Company will therefore seek to sell the enlarged number of Sterling Treasury Shares (approximately 57 million Sterling Shares) and the remaining Euro Treasury Shares. Any Treasury Shares will be sold at a price that is equal to a 1 per cent. premium to the last-published cum-income NAV per Share as at the time the Placing closes. The costs of the Placing will be met out of the premium.

Were all of the Treasury Shares to be sold pursuant to the Placing, it is the Board's intention not to issue any new shares for a period of time (save in respect of the periodic conversions) in order to give the Manager time to invest the proceeds of the Placing. Further, the Board reserves the right to cancel any or all remaining Treasury Shares after the Placing in the event they are not all sold.

The Placing will be made to Qualified Investors (as defined in section 86(7) of the Financial Services and Markets Act 2000 (as amended)) through Winterflood Securities Limited ("Winterflood"). The decision to sell Treasury Shares to any Qualified Investor and the amount of their allocation shall be at the absolute discretion of the Company and Winterflood.

Treasury Shares sold pursuant to the Placing will rank pari passu with the existing Shares, including the right to receive all future dividends and distributions.

The expected timetable is as follows:

	2018
Placing opens	5 June
Investor roadshow	throughout June
Publication of NAV used to determine the Placing price	4 July
Placing closes	1.00 p.m. on 4 July
Results of Placing announced	5 July
Placing trades booked	5 July
Placing trades settle	9 July

All times are London time and may be subject to change at the discretion of the Board.

ENQUIRIES

CVC Credit Partners European Opportunities Limited

Richard Boléat

+44 1534 625 522

Winterflood Securities Limited

Joe Winkley/Darren Willis/Andrew Marshall

+44 20 3100 0000

CVC Credit Partners European Opportunities Limited is regulated by the Jersey Financial Services Commission

A copy of this announcement will be available for inspection, subject to certain restrictions relating to persons resident in restricted jurisdictions, on the Company's web site at www.ccpeol.com.

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