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.

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Voya Asia Pacific High Dividend Equity Income Fund

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Post by Kittydayon Apr 20, 2015 9:19am

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Post# 23645661

$$$

They have debt facilities of up $1,085M, of which $780M are drawn at the moment and an expected $70M will be drawn during Q2 2015 to finance the remaining infrastructure at the Great Stella Area play, with peak net debt expected to be $850M, leaving them with an additional $235 to be drawn if needed for acquisition or else.
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Ithaca will have no trouble paying this off quickly. As we all know, Ithaca is nearing the end of its capex cycle, with 2015 to be fully funded after an additional $70M has been drawn from their RBL facility.
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Due to forward carrying tax losses they had a cost recover pool of approximately $1.5B at the end of 2014, which will effectively shield them from taxes for the coming 4-5 years, dependent on Brent pricing.
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Assuming no additional reserves, Ithaca has a reserve life of 8 years.
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To read again the full article, go to:
https://seekingalpha.com/article/3053586-ithaca-energy-a-cash-cow-in-the-making

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