Portfolio Update

RNS Number : 1423J

VPC Specialty Lending Invest. PLC

03 December 2018

 

3 December 2018

VPC Specialty Lending Investments PLC

(the "Company")

PORTFOLIO UPDATE

The Company and Victory Park Capital Advisors, LLC ("VPC" or "Investment Manager") are pleased to announce that VPC has entered into an agreement with CapitalSource, a division of Pacific Western Bank, ("CapSource") to provide the Company with a USD 75 million gearing facility with an ability to upsize the facility to USD 125 million.  We believe this facility will not only enhance the return of the Company, but reduce cash drag associated with its hedging program.  The Company will draw USD 25 million initially on the CapSource facility and expects that the proceeds drawn will be utilised for new and existing balance sheet investments. Further, the Company expects to be substantially fully invested, including the initial amount drawn under the CapSource facility, by the end of the year. If the full facility is drawn, the Company's look-through gearing ratio as at 31 October 2018 would increase to 0.24x from 0.06x, which is well below the Company's approved limit of 1.50x.

The information contained in this announcement is inside information. 

FOR FURTHER INFORMATION, PLEASE CONTACT:

Victory Park Capital Brendan Carroll (Senior Partner and Co-Founder) Gordon Watson (Partner, Investment Manager)	via MHP Communications (below)
Jefferies International Limited	Tel: [phone]
Gary Gould
James Hopton
MHP Communications	Tel: [phone]
Tim Rowntree Kelsey Traynor	Email: [e-mail]

ABOUT VPC Specialty Lending Investments PLC:

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 distributable income and capital growth via investments in a diverse portfolio of various platforms, asset classes, geographies (primarily U.S., U.K. and Europe) and credit bands.

Since 2010, the Company's investment manager, VPC, has been actively involved in the specialty lending marketplace and has made more than $6.5 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: http://vpcspecialitylending.com.

 

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