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VPC Specialty gives portfolio update

22 July 2015 09:33

VPC Specialty Lending Investments continues to execute on its capital deployment mandate and said net IPO proceeds have been substantially fully invested, well ahead of the stated target to do so within 6 months of Admission.

The Company's investments are diversified with exposure to 16 platforms originating consumer and small business loans across the U.S., U.K. and Europe.

The most recent investment was made pursuant to VPC's $106 million balance sheet model commitment to and equity investment in a US-based small business lender providing short term working capital loans of up to $25,000 through a vendor financing arrangement and receiving payment once sales are made.

The Company intends to declare its initial dividend in August 2015 in respect of the period from Admission to 30 June 2015. Following this initial period, the yield on the substantially fully invested portfolio is in line with expectations in order to meet the targeted net dividend yield of 8.0% of the Issue Price per Ordinary Share.*

The Company has previously announced that, in the absence of unforeseen circumstances, it intends to proceed with an issue of C shares in the Company pursuant to the Share Issuance Programme announced at the time of IPO. The issue of new C shares is currently anticipated to take place in September 2015.

At 9:33am: (LON:VSL) Vpc Specialty Lending Investments Plc Ord Gbp0.01 share price was +0.01p at 102.63p

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