Voya Asia Pacific High Dividend Equity Income Fund T.IAE

Primary Symbol: IAE

Voya Asia Pacific High Dividend Equity Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is total return through a combination of current income, capital gains and capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a portfolio of dividend yielding equity securities of Asia Pacific companies. The Fund will seek to achieve its investment objective by investing at least 80% of its managed assets in dividend producing equity securities of, or derivatives having economic characteristics similar to the equity securities of Asia Pacific Companies that are listed and traded principally on Asia Pacific exchanges. The Fund will invest in approximately 60-120 equity securities and will select securities through a bottom-up process that is based upon quantitative screening and fundamental analysis. Voya Investments, LLC is an investment adviser of the Fund.

NYSE:IAE - Post by User

Voya Asia Pacific High Dividend Equity Income Fund

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Post by SurfForWealthon May 30, 2008 7:16am

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Post# 15125976

Ratio is even higher than that.

One really needs to use EV and since IAE has net cash of about $58M and OIL net debt of about $421M, it is more like this;

OIL 231M shares FD x $15.38=$3,552 + $421M= $3,973
IAE 118M shares FD x $2.31=$272 - $58M= $214M

$3,973/$214 = 18.56 ratio of OIL to IAE

TO1, what about the funding needed for Jacky? Will that all be debt financed? Possibly according to this note from the Q12 results.

Royal Bank of Scotland $60 million Pre-Development Facility

On April 4, 2008, a $60 million secured pre-development credit facility was signed with the Royal Bank of Scotland to assist in the funding of expenditure for the Athena and Jacky assets. The Corporation intends to replace this facility post approval of the respective field development plans with a borrowing base facility that will also incorporate the Barbara field and its Beatrice acquisition.

Cheers!!!

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