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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rdl Realisation Plc | LSE:RDL | London | Ordinary Share | GB00BW4NPD65 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 59.70 | 56.20 | 63.20 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
12/8/2015 08:44 | Liberum; Ranger Direct Lending (BUY, TP 1215p) Interims confirm deployment is on track Event RDL's interim report (covering the two months to 30 June 2015) has highlighted that initial deployment is on track to meet the 6-9 month deployment timeline. RDL had deployed $40m by the end of June and the rate of investment is expected to rise as new platforms are added and deployment on existing platforms increases. Investments have been made across eight platforms to date (up from seven at the time of the IPO) and is currently in discussion with eight new platforms (three of which are international). Sharestates (real estate platform) has accounted for the largest proportion of allocation to date. Secured loans account for 83% of capital deployed to date (target of at least 75%). Liberum view Much of the information in today's report had already been released in the June monthly report but it is encouraging to see that deployment and returns are in line with expectations at this early stage. The weighted average interest rate on the platforms appears to be in line with expectations at the time of the IPO. The board has also stated it hopes to consider increasing the size of the company in 2016. RDL trades on a 6.9% premium to NAV and we forecast a 2016 dividend yield of 8.9% rising to 11.3% in 2017. | davebowler | |
23/7/2015 14:31 | P2P's 'C'shares issue of £400m closed early yesterday due to excess demand. | davebowler | |
23/7/2015 08:29 | Liberum -Target price 1215p | Published price 1058p RDL had deployed $40m or 19% of its capital by the end of June 2015 and the company is on track to meet the 6-9 month deployment timeline. Returns are also in line with expectations with NAV growth of 0.26% in the month. Secured loans account for 83% of capital deployed to date (target of at least 75%). Investments have been made across eight platforms to date (up from seven at the time of the IPO) and the manager expects to on-board new platforms within the next three months which will further improve diversification. We forecast a 2016 dividend yield of 8.7% rising to 11% in 2017. Deployment on track RDL had deployed $40m or 19% of the net IPO proceeds by 30 June 2015 (6% at 31 May 2015) and is on track to meet the expected 6-9 month deployment timeline. The deployment rate is expected to rise as new platforms are added and deployment on existing platforms increases. Investments have been made across eight platforms to date (up from seven at the time of the IPO) and more platforms are expected to be on-boarded in the next two to three months. Secured investments account for 83% of capital deployed to date (above the target of at least 75%) with the remainder in unsecured loans. 0.26% NAV rise in June NAV returns are also in line with expectations at this early stage with growth of 0.26% in the month. NAV performance in the month benefited from the reclassification of certain expenses as IPO costs (previously classified as operating expenses). Total IPO costs are now estimated at 1.63% of the initial raise (previously 1.53%). The NAV returns are net of a loan loss reserve. RDL assigns a loss reserve that will be accrued over the term of each investment in order to offset any potential write-offs that may occur. The accrued loss reserve to date is 0.02% of NAV. Fed survey highlights opportunity for alternative lenders The difficulty of accessing credit for small business (and the opportunity for alternative lenders such as RDL) was highlighted in a recent survey published by the New York Fed. According to the survey, a majority of small firms (under $1 million in annual revenues) and startups (under 5 years in business) were unable to secure any credit compared to just 20% for large commercial firms in 2014. | davebowler | |
22/6/2015 09:44 | Liberum; Ranger Direct Lending Fund - Initiation Secured SME lender with 11% yield BUY Target price 1215p | Publication price 1066p Ranger Direct Lending Fund (RDL) invests primarily in a diversified portfolio of SME loans originated by US direct lending platforms. Loans will typically be secured, short duration and high yielding. It may also take equity stakes in platforms or other companies serving the direct lending industry. RDL is seeking to benefit from the high yields available as banks continue to retreat from SME lending. We forecast a 2017e dividend yield of 11.0%. Key point Net yields are expected to be 12-13% after loan losses. The target is for 75% of the loans to be secured and the portfolio will consist of short duration assets (2 years average). Lending opportunity US SME lending has fallen by 16% since 2008 as banks retreat from the market. This has been exacerbated by the consolidation of community banks (source of 40% of SME loans). Established platforms Agreements with at least seven generally established / well-backed platforms should ensure sufficient investment capacity and favourable loan servicing terms. Valuation We forecast a 2017e dividend yield of 11.0% which is driven entirely by interest income. Our NAV total return forecasts for 2016e and 2017e are 10.3% and 12.8% respectively. | davebowler | |
17/6/2015 12:13 | Cheers jaws6. Very encouraging to see that the big boys are getting involved. | hezza123 | |
16/6/2015 13:32 | Hezza Just seen this on CNBC -- Goldamn Sachs , FT got this too hxxp://blogs.barrons | jaws6 | |
16/6/2015 12:37 | Indeed. Not to be sniffed at! | hezza123 | |
16/6/2015 12:35 | I think may be bit less because of FX hedge then 10 % but 8 to 9 % will do | jaws6 | |
16/6/2015 12:33 | Yes, it should certainly pave the way for more buying volume in certain trusts. It'll be quite a boon if RDL does generate anywhere near the projected 10% yield - moreso when housed in an ISA... | hezza123 | |
16/6/2015 12:19 | Hezza You seen this from HMRC today | jaws6 | |
16/6/2015 12:16 | Yeah, fingers crossed jaws6. I see that GLIF trades at a 10.6% premium to NAV now - and is higher risk - so RDL ought to be trading at 1100p at least, I reckon. Wished I'd have bought more after the IPO like you! | hezza123 | |
16/6/2015 10:51 | Hezza I hold from ipo plus bought more after in ISA. so will not harm RDL till we get more news on next updates from RDL . Let's hope 1100 first stop . edit-- let's hope we get new updates from broker too in July. | jaws6 | |
16/6/2015 08:52 | I believe that this fund will move into the FTSE SmallCap index on Monday. Will tracker funds have already started buying RDL, or do they have to wait until it has actually moved? I hold from the IPO. | hezza123 | |
12/6/2015 11:12 | Small tick up | jaws6 | |
09/6/2015 13:23 | dave Good read ,thanks. might help RDL if in budget news in July. | jaws6 | |
08/6/2015 12:08 | hxxp://www.financial | davebowler | |
03/6/2015 10:36 | 2 June 2015 Ranger Direct Lending Fund PLC (The "Company") Capital Deployment on Seven Different Direct Lending Platforms Ranger Direct Lending Fund plc is pleased to announce that, following its admission to trading on the Main Market of the London Stock Exchange on 1 May 2015 (LSE: RDL), and in line with its stated investment strategy, the Company has commenced deployment of capital on seven different direct lending platforms. In keeping with its investment strategy, six of the seven direct lending platforms are secured lending opportunities within a range of asset class sub-categories including SME loans, invoice receivables, equipment finance and real estate loans. The Company is also currently performing due diligence with a number of other direct lending platforms with a view to entering into agreements with them to deploy the Company's capital. For further information, please contact: Ranger Alternative Management via Redleaf PR II, LP Scott Canon Bill Kassul Liberum Simon Atkinson Tom Fyson Joshua Hughes +44 (0)20 3100 2000 Media enquiries Redleaf Polhill Rebecca Sanders-Hewett Richard Gotla David Ison +44 (0)20 7382 4730 This information is provided by RNS | davebowler | |
01/5/2015 15:43 | Well, not quite 6400%, but 3.75% isn't a bad first day :-) | wirralowl | |
01/5/2015 14:45 | Jonwig - its not just the chart - monitor is showing it up 6400%! | skinny | |
01/5/2015 12:34 | Well, good luck to that Mark ... I see my risk profile must now be below yours! (Maybe it has been for some time now.) By the way, nothing I can do to tweak the chart here - it seems there was another company called RDL which went but some time ago; you'll see the bottom share price is just above zero. The day's chart should function properly after today, though. | jonwig | |
01/5/2015 11:57 | Greetings! Just to let fellow shareholders know that RDL is now my largest individual shareholding, so I will be taking a keen interest in its progress. Cheers, Mark Twitter @marben100 | marben100 | |
01/5/2015 11:23 | Davebowler - thanks for the link of the GLIF thread. | skinny | |
01/5/2015 11:06 | £10.31 to sell at the moment - a reasonable start. | davebowler | |
01/5/2015 09:44 | 1025 1040. slow start ,may be will catch up later like p2p | jaws6 | |
27/4/2015 12:17 | It should make for a good after market,hopefully! | davebowler |
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