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MPLF Marble Point Loan Financing Limited

0.63
0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Marble Point Loan Financ... Investors - MPLF

Marble Point Loan Financ... Investors - MPLF

Share Name Share Symbol Market Stock Type
Marble Point Loan Financing Limited MPLF London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 0.63 01:00:00
Open Price Low Price High Price Close Price Previous Close
0.63 0.63 0.63 0.63 0.63
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Posted at 30/4/2018 19:35 by rambutan2
Out today:

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 (see header above).

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.
Posted at 30/4/2018 18:58 by rambutan2
Listed on the SFM on 13/02/18 with 205,716,892 shares, having raised US$42.5 million through a placing of 42,500,001 new ords:



Robert Brown, Chairman of Marble Point Loan Financing Limited, said:

"We are pleased with the support shown by investors and to achieve the significant milestone of listing the Company. We believe that Marble Point Loan Financing Limited will be the first LSE listed company predominantly focused on US senior secured loans and CLOs that are not managed by third-party CLO collateral managers."

Fellow LSE listed CLOers:

Blackstone/GSO

Chenavari Toro

Fair Oaks

TwentyFour

Volta

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