REG - NB Distressed Debt NB Distressed - NBDX NB Distressed - NBDG - Portfolio Update - Sale of Surface Transport Asset

NB Distressed Debt Investment FundAnnouncement

09/09/2025 07:00

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RNS Number : 4966Y  NB Distressed Debt Invest. Fd. Ltd  09 September 2025

9 September 2025

 

NB Distressed Debt Investment Fund Limited

("NBDD" or the "Company")

 

Sale of Surface Transport Asset

 

The Board of NBDD has been notified of the sale of the Company's remaining
Surface Transport asset, resulting in a realised valuation below the
investment's carrying value. The investment consisted of a municipal claim in
Brazil, was held in the Ordinary and Extended Share Classes, and resulted in
the receipt of sale proceeds totalling $5.3 million.

 

Due to multiple ongoing legal processes and a lack of clarity on the timing of
resolution, finding a buyer for the Surface Transport asset had proven
challenging. With limited visibility on liquidity and timing, the investment
manager negotiated a sale of the Surface Transport asset at this discounted
level instead of extending its maturity for another 12 months. The investment
also included certain hedge and currency adjustments, which took some
additional time to unwind.

 

The impact to the Net Asset Value ("NAV") of each share class is as follows:

 

 NBDD Share Class  Realised Loss  Decline in reported NAVs*
 Ordinary          $5.08 million  17.5%
 Extended          $1.97 million  14.7%

* As a percentage of 4 September 2025 NAV, as announced on 5 September 2025

 

For the avoidance of doubt, there is no impact from this sale on the NAV of
the Global Share Class.

 

These updated valuations have been incorporated into the NAVs for close of
business on Thursday 4 September, as separately announced on Friday 5
September.

 

ENDS

 

 

LEI: YRFO7WKOU3V511VFX790

 

For further information, please contact:

 

 KL Communications                +44 (0) 20 3882 6644

 Charles Gorman                   nbdd@kl-communications.com

 Jefferies International Limited  +44 (0) 20 7029 8000

Gaudi Le Roux

 

 

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