Portfolio Update

RNS Number : 7054T

VPC Specialty Lending Invest. PLC

22 July 2015

 

22 July 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 that net IPO proceeds have been substantially fully invested, well ahead of the stated target to do so within 6 months of Admission.

The Company's investments are diversified with exposure to 16 platforms originating consumer and small business loans across the U.S., U.K. and Europe. The most recent investment was made pursuant to VPC's $106 million balance sheet model commitment to and equity investment in a US-based small business lender providing short term working capital loans of up to $25,000 through a vendor financing arrangement and receiving payment once sales are made.

The Company intends to declare its initial dividend in August 2015 in respect of the period from Admission to 30 June 2015. Following this initial period, the yield on the substantially fully invested portfolio is in line with expectations in order to meet the targeted net dividend yield of 8.0% of the Issue Price per Ordinary Share.*

The Company has previously announced that, in the absence of unforeseen circumstances, it intends to proceed with an issue of C shares in the Company pursuant to the Share Issuance Programme announced at the time of IPO. The issue of new C shares is currently anticipated to take place in September 2015.

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:

*     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.

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 $3.5 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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