Palio plans £150m debt fund IPO

It will pursue a dual listing on the Specialist Fund Market of the London Stock Exchange and the Official list of the Channel Islands Stock Exchange.

Palio UK Mid-Market Debt Fund Limited will be advised by Palio Capital Partners.

It will provide senior debt, mezzanine and junior equity, with allocations of 50%, 40% and 10% respectively.

The fund will target a dividend yield of 7% of issue price in its first year and 8% in subsequent years, with a targeted net total return of 12.5% per annum. A fund prospectus is expected in mid-October with admission following in mid-November.

Palio first hit the UK debt market in February this year, when it received a cornerstone investment for its Superflex Fund I from the European Investment Fund.

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• Topics
• UK / Ireland
• Financing
• Mezzanine
• United Kingdom