P2P Global C Share Discussion Threads

[davebowler] 24/2/2016 10:01

Liberum;
P2P Global Investments (BUY)
C share conversion to take place in March

Event
P2PGI yesterday announced that over 90% of the net proceeds raised in the C share issue in July 2015 will shortly be invested. Conversion of the C shares into ordinary shares will take place during March following the announcement of the February NAV for both share classes. Once the share classes have merged, P2PGI expects to resume a regular quarterly dividend with the dividend for Q1 2016 to be declared in April.

Separately, P2PGI also announced the NAV for January with the portfolio delivered NAV growth of 0.41% and 0.48% respectively for the ordinary shares and C shares during the month.

Liberum view
The merging of the C shares is in line with the 6-9 month target set at the time of issue. The majority of the portfolio metrics have remained broadly unchanged in the month with the weighted average coupon on the ordinary shares stable at 10.0%. The coupon on the C share portfolio was 11.3% (vs. 11.5% at December 2015) and we believe this is mainly due to a change in the portfolio mix (slightly higher allocation to A grade and lower weighting in D grade). The gearing on the ordinary shares rose to 78% by the end of January (69% at December 2015). The ordinary and C shares are currently trading on discounts to NAV of 17.1% and 16.5% respectively.

[jaws6] 29/9/2015 13:12

dave
Thanks ,Anything in funding circle ?

[davebowler] 29/9/2015 13:09

Liberum;
P2P Global Investments (BUY, TP 1300p)
0.49% NAV increase in August 2015

Event
P2PGI issued the monthly NAV report for August 2015 with NAV growth per ordinary share of 0.49% taking the NAV per ordinary share to 1,014.45p and the NAV growth since inception to 7.18% (excluding the NAV per share from the tap issue at a premium to NAV).

At the end of August, 80.2% of the credit asset portfolio was invested in consumer loans mainly in the US and 17% in SME loans mainly in Europe. 2.7% of the ordinary share portfolio was invested in to the P2P platforms in the form of equity, options, warrants or convertibles.

The latest C share capital that started to deploy in August is now 9.8% deployed, mainly in the US and Europe, in consumer and SME loans.

Liberum view
P2PGI continues to deploy funds towards growth opportunities through new and existing origination channels and partnerships. We believe the Company will remain active and create value. P2PGI is trading at 5.5% and 2.3% premium respectively for Ordinary and new C shares against their August NAV.

[jaws6] 08/9/2015 15:00

At last move on right side 1038 1041

[davebowler] 04/9/2015 09:58

P2P Global Investments (BUY)
Inclusion to FTSE 250 Index

Event
FTSE announced yesterday the inclusion of P2P Global Investments to the FTSE 250 UK Index. The change will take place after the close of business on Friday, 18 September 2015 and will be effective on Monday, 21 September 2015.

Real Estate Debt

[jaws6] 03/8/2015 11:45

hxxp://citywire.co.uk/money/p2p-trust-set-for-ftse-250-after-400m-raising/a829242

[jaws6] 02/8/2015 14:34

Dave
Thanks. will add tomorrow some links .