22nd Jul 2016 10:05
LONDON (Alliance News) - Ranger Direct Lending Fund PLC on Friday said it has raised GBP30.0 million through the placing of zero dividend preference shares.
Ranger Direct invests in loans provided primarily by US direct-lending platforms, which offer an alternative source of finance to banks.
It has issued 30.0 million ZDP shares at 100.0 pence each to raise the funds. The shares will have a life of five years and a final capital entitlement of 127.63p per share on the ZDP repayment date.
Liberum acted as financial adviser, broker and placing agent on the issue.
Ranger Direct ordinary shares were up 2.9% to 1,038.86p Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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