Duke Royalty Enters New Royalty Deal With Lynx Equity

LONDON (Alliance News) - Duke Royalty Ltd said Friday it has entered into a new royalty ...

Alliance News 6 October, 2017 | 9:09AM
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LONDON (Alliance News) - Duke Royalty Ltd said Friday it has entered into a new royalty financing agreement with Lynx Equity Ltd.

Duke Royalty said it has committed GBP7.0 million with an initial tranche of GBP4.5 million to be drawn down immediately by Lynx. An additional GBP2.5 million will be drawn down at the completion by Lynx of an imminent acquisition, which is expected to be completed in the coming weeks.

As part of the financing Duke has become Lynx's preferred European capital provider with the potential to invest up to GBP15 million in total.

Brad Nathan, president of Lynx Equity said: "We were immediately drawn to the structure that Duke presented which will allow us to aggressively expand our European portfolio. This permanent capital is a perfect fit for our buy and hold strategy."

"Lynx is an excellent partner for Duke; they are successful operators, their businesses meet our investment criteria and their international operations make them a substantial and profitable partner," said Neil Johnson, CEO of Duke.

Shares in Duke Royalty were down 5% at 34.45 Friday.

By Gem Sofianos; gemsofianos@alliancenews.com

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Duke Royalty 41.40 GBX -1.19 -
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