Marble Point Loan Financing Limited Annual Financial Report (6303M)

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RNS Number : 6303M

Marble Point Loan Financing Limited

30 April 2018

30 April 2018

MARBLE POINT LOAN FINANCING LIMITED

Annual report and audited financial statements

The Board of Directors (the "Board") of Marble Point Loan Financing Limited (the "Company") is pleased to announce that the Company's Annual Report and Audited Financial Statements for the year ended 31 December 2017 have been published today and are available on the Company's website, www.mplflimited.com.

During the full year 2017, the Company was a private unlisted investment vehicle whose investments were managed by Marble Point Credit Management LLC, the Company's investment manager. Although the Company was a private vehicle during this period, the Board of the Company is committed to providing meaningful information to our shareholders regarding the Company and its operations for the most recently completed fiscal year.

2017 Highlights and 2018 Update (YTD)

-- In 2017, as a private unlisted investment vehicle, the Company increased its net assets from US$10.2 million to US$165.1 million and net asset value ("NAV") per share increased 20.39% from US$1.03 to US$1.24.(1)

-- On 9 February 2018, the Company raised US$42.5 million in gross proceeds in its initial public offering ("IPO") at an issue price of US$1.00 per ordinary share (or approximately US$40.5 million in net proceeds) and on 13 February 2018, all of the Company's 205,716,892 ordinary shares were admitted to trading on the Specialist Fund Segment of the London Stock Exchange.

-- On 9 April 2018, the Company announced that it had declared a dividend of US$0.0104 per ordinary share payable on 30 April 2018 to shareholders of record on 20 April 2018, representing an annualised dividend in line with the initial targeted dividend of 8% per annum based on the IPO price.

   --     Market capitalisation (as at 27 April 2018): US$207.6 million (GBP149 million).(1) 

Active Management of Marble Point CLO Investments

In 2017, the CLO market embraced CLO refinancing and reset transactions and "call and roll" transactions, in industry parlance, which effectively make use of a significant portion of an existing CLO's loan assets to recast and renew the CLO's liabilities into a new CLO with updated (often lower) pricing and a new extended maturity. During 2017, there were seven refinancing, reset and "call and roll" transactions involving the Marble Point CLOs held directly or indirectly in the Company's investment portfolio, representing the issuance of approximately US$3.1 billion of CLO debt and equity securities (including newly issued securities). Importantly for the Company, each of these transactions resulted in either (or, in certain instances, both) a reduction of the CLO's weighted average cost of debt or an extension of the CLO's reinvestment period. Extending the reinvestment period allows the collateral managers of the Marble Point CLOs to continue to actively manage the loan portfolio underlying each of these CLOs, thereby positioning the Company, as an investor in the equity securities issued by each of the Marble Point CLOs, to react to and/or benefit from, changing market conditions over time.

(1) Past Performance is not indicative of, or a guarantee of, future performance.

(2) Based on the bid-side quote on the London Stock Exchange as at market close on 27 April 2018.

Enquiries:

Marble Point Loan Financing Limited

Investor Relations

www.mplflimited.com

P: [phone]

E: [e-mail]

Corporate Broker:

Stifel Nicolaus Europe Limited

Neil Winward, Corporate Broker - Investment Funds

P: [phone]

ABOUT MARBLE POINT LOAN FINANCING LIMITED

MPLF is a closed-ended investment company with its ordinary shares admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange. MPLF is invested in a diversified portfolio of US dollar denominated, broadly syndicated floating rate senior secured corporate loans via Collateralised Loan Obligations and related vehicles managed by Marble Point Credit Management LLC and its affiliates.

NOTE: PAST PERFORMANCE IS NOT INDICATIVE OF, OR A GUARANTEE OF, FUTURE PERFORMANCE.

Important Information

MPLF is a closed-ended investment company with its ordinary shares admitted to trading on the Specialist Fund Segment of the Main Market of the London Stock Exchange. MPLF is invested in a diversified portfolio of US dollar denominated, broadly syndicated floating rate senior secured corporate loans via collateralised loan obligations and related vehicles managed by Marble Point Credit Management LLC ("Marble Point") and its affiliates. Marble Point is an investment adviser registered with the U.S. Securities and Exchange Commission.

This document has been issued by Marble Point Loan Financing Limited (the "Company" or "MPLF") and is the sole responsibility of the Company. This document and the information and views included herein do not constitute investment advice, or a recommendation or an offer to enter into any transaction with the Company or any of its affiliates. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of any investment and should consult its own legal counsel and financial, actuarial, accounting, regulatory and tax advisers to evaluate any such investment. This document is provided for informational purposes only, does not constitute an offer to sell the shares issued by the Company (the "Shares") or a solicitation of an offer to purchase any such Shares in the United States, Australia, Canada, the Republic of South Africa, Japan or any other jurisdiction, and is not a prospectus. This document may not be relied upon and should not be used for the purpose of making any investment decision.

Past performance is not a reliable indicator of current of future results. The value of investments may go down as well as up and investors may not get back any of the amount invested.

The value of investments designated in another currency may rise and fall due to exchange rate fluctuations in respect of the relevant currencies. Adverse movements in currency exchange rates can result in a decrease in return and a loss of capital.

This document is for information purposes only. No recipient may forward, reproduce, distribute, or make available in whole or in part, this document (directly or indirectly) to any other person. The distribution of this document in certain jurisdictions may be restricted by law and recipients of this document should inform themselves about and observe any such restrictions and other applicable legal requirements in their jurisdictions. This document, and the information contained therein, is not for viewing, release, distribution or publication in or into the United States, Australia, Canada, the Republic of South Africa or Japan or any other jurisdiction where applicable laws prohibit its release, distribution or publication, and will not be made available to any national, resident or citizen of the United States, Australia, Canada, the Republic of South Africa or Japan. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this document comes must inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the federal securities law of the United States or the laws of other jurisdictions.

The Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered or sold in the United States to, or for the account or benefit of, U.S. persons unless they are registered under applicable law or exempt from registration. The Company has not been and will not be registered under the U.S. Investment Company Act of 1940, and investors will not be entitled to the benefits of such Act.

There is no guarantee that any of the goals, targets or objectives described in this document will be achieved. The investment strategies of the Company described herein may not be suitable for all investors and are not intended to constitute a complete investment program. Neither Marble Point nor the Company makes any representation or warranty (express or implied) with respect to the information contained herein (including, without limitation, information obtained from third parties) and each of them expressly disclaims any and all liability based on or relating to the information contained in, or errors or omissions from, these materials; or based on or relating to the use of these materials; or any other written or oral communications transmitted to the recipient or any of its affiliates or representatives in the course of its evaluation of the information herein.

None of the Company, Marble Point or any of their respective parent or subsidiary undertakings, or the subsidiary undertaking of any such parent undertakings, or any of such person's respective partners, shareholders, directors, members, officers, affiliates, agents, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any information or opinions presented or contained in this document nor shall they accept any responsibility whatsoever for, or make any warranty, express or implied, as to the truth, fullness, accuracy or completeness of the information in this document (or whether any information has been omitted from the document) or any other information relating to the Company, Marble Point or their respective subsidiaries or associated companies, in any form whatsoever, howsoever transmitted or made available or for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection therewith. This shall not affect any liability any such person may have which may not be excluded under applicable law or regulation.

A Note on Forward Looking Statements. This document includes forward-looking statements. Forward-looking statements include all matters that are not historical facts. Actual results may differ materially from any results projected in the forward-looking statements and are subject to risks and uncertainties. Such statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, and other factors that may cause actual results to differ materially from the anticipated results expressed or implied by such forward-looking statements. The Company and Marble Point caution readers not to place undue reliance on such statements. Neither the Company nor Marble Point undertakes, and each specifically disclaims, any obligation or responsibility, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company's and/or Marble Point's expectations and estimates.

The information shown herein is estimated, unaudited, for background purposes only, representative as of the dates specified herein, subject to adjustment and not purported to be full or complete. Nothing herein shall be relied upon as a representation as to the current or future performance or portfolio holdings of the Company or any strategy or investment vehicle. Certain information presented herein has been obtained from third party sources and is believed to be reliable. However, neither the Company nor Marble Point represents that the information contained in this document (including third party information) has been independently verified or is accurate or complete, and it should not be relied upon as such. Index information, if any, has been provided for illustration purposes only. Any such information does not reflect the effect of transaction costs, management fees or other costs which would reduce returns. An investor cannot invest directly in an index.

Any of the views or opinions expressed herein are current views and opinions only and may be subject to change. Statements made herein are as of the date of this document and should not be relied upon as of any subsequent date. All information is current as of the date of this document and is subject to change without notice.

This information is provided by RNS

The company news service from the London Stock Exchange

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April 30, 2018 11:45 ET (15:45 GMT)