P2P Global C Share Discussion Threads

[davebowler] 31/7/2015 16:31

Here you are jaw6

[jaws6] 23/7/2015 15:37

dave
tks.
Are you going to use this thread for new C shares ?

[davebowler] 23/7/2015 15:30

P2P's new'C'share issue at £400m closed early yesterday due to excess demand.

[jaws6] 17/7/2015 07:44

RNS on C conversion

[jaws6] 16/6/2015 14:37

getting better now with this news coming

G SACHS
hxxp://blogs.barrons.com/incomeinvesting/2015/06/16/now-goldman-plans-to-enter-online-consumer-lending/

[davebowler] 29/4/2015 16:25

Liberum;
C share deployment progressing well

March was a record month for deployment due to organic growth with existing platforms and the addition of new platforms. P2PGI deployed 32% of the C share proceeds in the two months since the raise. By way of comparison, 29% of the ordinary shares were deployed over the same time period after the IPO and the ordinary shares benefited from pre-secured capacity ahead of launch.

87% of the deployed C share capital has been allocated to US loans (77% in US consumer and 10% in US SME). European exposure as a percentage of total deployment increased marginally n the month from 9% to 11% and this should continue to rise gradually going forward.

[davebowler] 27/3/2015 13:29

Liberum;
BUY
Target price 1400p | Published price 1143p

P2PGI has delivered an upbeat monthly report for February with strong deployment of the C share proceeds (15% invested). NAV returns for the ordinary and C shares were 0.6% and 0.2% respectively. We estimate an annualised ROE of 7.7% based on the last 3 months for the ordinary shares and this should gradually improve going forward with the introduction of leverage. Portfolio diversification continues to increase and P2PGI now has relationships with 14 different platforms (vs 5 at the time of the IPO) and an increasing equity investment pipeline. P2PGI trades on a p/NAV of 1.13x yielding 7.8% in 2015.

Strong start to C share deployment

February represented an encouraging start for the C shares with over 15% of net proceeds invested from the £250m issue at the end of January. The deployment has followed a similar pattern to the ordinary shares with over 90% allocated to US loans (72% in US consumer and 19% in US SME). The manager remains confident of meeting the investment horizon outlined at the time of the raise (6-9 months).



Leverage should boost returns

The manager has just commenced introducing leverage on the ordinary shares which should boost returns as the additional capital is invested. The debt is held in dedicated pockets against certain originators and seeks to enhance the returns from lower risk assets in the portfolio. The manager is aiming to broaden the funding sources in the coming months.

Increased platform diversification

P2PGI now has relationships with 14 different platforms compared to five at the time of the IPO. P2PGI's first mover advantage is delivering benefits in terms of access to loans and favourable fee terms with the platforms.

Growing equity investment

Equity investments have been made with a further two platforms bringing the total number of investments to seven. We also understand the manager is close to completing further equity deals in the near future. This is line with the mandate of making strategic investments in platforms with significant potential upside (up to a maximum of 5% of gross assets - currently 1%).

[davebowler] 02/3/2015 10:55

From www.altfi.com hxxp://www.archover.com/wp-content/uploads/2015/02/UK-P2P-Finance-February-2015.pdf

[davebowler] 27/2/2015 10:39

Liberum;
P2P Global Investments
Close to full deployment
BUY
Target price 1400p | Published price 1172p

P2PGI was substantially fully invested at the end of January with total deployment for the ordinary shares reaching 93% of NAV (December: 85%). The net IPO proceeds have largely been invested within 8 months which is in line with the initial target at launch of 6-9 months. The fund deployed £15m in January with US consumer (62%) and European consumer (35%) accounting for the majority of capital allocated. NAV growth in January was 0.54% and the fund completed a successful £250m C share issue during the month. P2PGI trades on a p/NAV of 1.16x yielding 7.6% in 2015. Re-iterate BUY.

[wirralowl] 10/2/2015 14:39

Interesting to see that Neil Woodford participated in the 'c' Share issue, taking a stake for his Income Fund. In his monthly insight column he commented that P2PC 'looks well-placed to deliver a consistently attractive income stream to its investors'.

[jaws6] 04/2/2015 12:30

dave
From H L-- on p2p . hxxp://citywire.co.uk/money/hargreaves-lansdown-plans-p2p-push-as-profits-fall/a796430?ref=citywire-money-latest-news-list

[davebowler] 03/2/2015 11:31

Peer to Peer report here hxxp://www.equitydevelopment.co.uk/index.php?forwardURL=downloader/1319&p=login

[jaws6] 30/1/2015 16:01

good going now.
still waiting for some new notes or US interest rumors ?

[wirralowl] 29/1/2015 16:23

Yeah, thanks for starting the thread DB. A nice first day, hope the shares do as well as the originals.

[jaws6] 29/1/2015 15:36

dave
Thanks.I hold this.