LK Shields Solicitors has acted for Friends First Managed Pension Funds Ltd in the recent structuring of a €50 million limited recourse revolving credit facility that will provide the necessary leverage for the Geared Equity-Linked High Yield Investment Fund that it plans to offer its customers in the coming months ahead.

Friends First intends to issue life policies the values of which are notionally linked to units purchased by the group in an open ended umbrella unit trust. The low-cost leveraging of the purchased units is likely to give Friends First and its customers an enhanced return.

For further information please contact the Banking and Financial Services Group.

August 2007.