Greenwich Loan Income Fund Limited ("GLIF" or the "Company")

Quarterly CLO Test Results

18 January 2010 

The Company announces the test results as of 5 January 2010 pursuant to the indenture of T2 Income Fund CLO I Ltd (the "CLO"), of which the Company owns all of the residual economic interest. The report summarising the results of those tests can be found at the link below: 

http://www.rns-pdf.londonstockexchange.com/rns/6613F_-2010-1-15.pdf
 

The quarterly results as of 5 January 2010 indicate that the CLO met all of the covenant tests necessary for a full interest payment to be made to the Company, and US$2.5 million has been received from the trustee. The CLO also passed all of the percentage limitation tests.  

As described in previous press releases, the CLO indenture contains a variety of covenants, compliance with which, as well as curing existing defaults, could be made more difficult or impossible should credit markets deteriorate or the loans held by the CLO fail to make expected payments or otherwise not perform, or for a variety of other reasons, and which if violated could result in further principal paydowns and/or interest diversion.

Contacts:

Geoffrey Miller

Greenwich Loan Income Fund Limited

+353 1 4433 466

Patrick Conroy
Greenwich Loan Income Fund Limited
+1 203 983 5282

Philip Secrett

Nominated Adviser

Grant Thornton Corporate Finance

+44 (0) 20 7383 5100

Jos Trusted

Singer Capital Markets Limited 

+44 (0) 20 3205 7622

Ed Gascoigne Pees

Financial Dynamics

+44 (0) 20 7269 7132