RIG Cqs Rig

 
TIDMRIG 
 
 
   CQS RIG FINANCE FUND LIMITED 
 
   Monthly Shareholder Fact Sheet 
 
   CQS Rig Finance Fund Limited (the "Company"), a closed-ended investment 
company incorporated in Guernsey, is pleased to announce that its 
Monthly Fact Sheet for January 2014 is now available on the Company's 
website (www.cqsrigfinance.com) and includes further information on the 
top ten investments and outstanding borrowings. 
 
   Softer-than-anticipated economic data from the US and China during 
January, coupled with the US Federal Reserve's tapering of its asset 
programme, exacerbated headwinds for Emerging Markets, catalysing a 
sell-off in assets and raising inflation concerns. US non-farm payrolls 
for December disappointed, regardless of their distortion by abnormal 
weather conditions. In China, manufacturing PMI fell below 50, 
indicating a slowdown in the economy. The situation in Europe improved, 
with composite PMI data reaching its highest levels since the middle of 
2011, although the outlook for growth remained weak. In January, the 
MSCI World Index fell 3.2%, the MSCI Europe Index fell 2.3% and the MSCI 
AC Asia Index retreated 5.4%. Credit indices on both sides of the 
Atlantic widened. 
 
   Against this backdrop, the Company's NAV rose approximately 0.6% to 
close the month at 36.26p. A number of strategies made modest profits, 
the largest of which was on the new deal issued by Metro Exploration 
Holding Corp. Profits were partially offset by minor losses on outright 
convertible bond positions which were marked down slightly as underlying 
stocks were sold off over January. 
 
   There was one new deal of interest during the month, with Metro 
Exploration Holding Corporation issuing a 2-year $186m deal with an 
increasing coupon structure. The coupon will rise incrementally from 
8.0% to11.5%, depending on the length of time the bond remains 
outstanding. There is a premium call structure and a first priority 
security package over shares and the escrow account. The Company 
subscribed for and was allocated an amount of the new issue. 
 
   All market data sourced from Bloomberg and MSCI unless otherwise stated. 
MSCI index returns are in local currencies with net dividends 
reinvested. 
 
   For further information, please contact: 
 
   Corporate Secretariat 
 
   Kleinwort Benson (Channel Islands) Fund Services Limited 
 
   01481 710 607 
 
   Alastair Moreton, Darren Vickers 
 
   NOMAD and Broker 
 
   Westhouse Securities Limited 
 
   020 7601 6118 
 
   January Monthly Fact Sheet: 
http://hugin.info/140293/R/1763422/597603.pdf 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: CQS Rig Finance Fund Ltd via Globenewswire 
 
   HUG#1763422 
 
 
  http://www.cqsrigfinance.com/ 
 

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