Portfolio Update

RNS Number : 5705N

VPC Specialty Lending Invest. PLC

19 May 2015

 

19 May 2015

VPC Specialty Lending Investments PLC

Portfolio update

The Board of Directors (the "Board") of VPC Specialty Lending Investments PLC (the "Company") (ticker: VSL) is pleased to announce that the Company continues to execute on its capital deployment mandate and the Company has now invested approximately 70 per cent. of the net IPO proceeds. This is currently ahead of the target to be substantially fully invested within six months of Admission.

The yield on the existing portfolio, which is currently unlevered, is in line with expectations in order to meet the targeted net dividend yield of 8.0 per cent. of the Issue Price per Ordinary Share, once the proceeds of the Issue are fully invested*. The Company intends to declare its initial dividend in respect of the period from Admission to 30 June 2015.

*     This is a target only and not a profit forecast. There can be no assurance that the target will be met and it should not be taken as an indication of the Company's expected or future results.

For further information, please contact:

Victory Park Capital Brendan Carroll (Senior Partner and Co-Founder)	via Newgate (below)
Gordon Watson (Principal, Investment Manager)
Jefferies International Limited (Corporate Broker)	Tel: [phone]
Gary Gould
Alex Collins
Newgate (PR adviser)	Tel: [phone]
James Benjamin Andre Hamlyn	Email: [e-mail]

NOTES:

VPC Specialty Lending Investments PLC invests in opportunities within the specialty lending market primarily through online lending platforms. The Company intends to generate an attractive total return for shareholders consisting of dividend income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily US and Europe) and credit bands. The Company expects to be substantially fully invested within a period of six months following Admission.

Since 2010, the Company's investment manager, Victory Park Capital, has been actively involved in the specialty lending marketplace and has made more than $3.1 billion of investments and commitments across a number of financial technology platforms, multiple geographies (U.S., U.K. and Europe), products (consumer and business) and structures (whole loans and senior credit facilities).

Further information on VPC Specialty Lending Investments PLC is available at www.vpcspecialtylending.com 

 

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