29th Jun 2015 08:13
LONDON (Alliance News) - Peer-to-peer lender VPC Specialty Lending Investments PLC on Monday said it intends to proceed with a C shares issue in order to fund further investments.
The company said its investment manager, Victory Park Capital Advisors LLC, continues to see a strong pipeline of potential opportunities in the specialty lending sector.
VPC did not provide any details on the size of the issue, but said it expects the transaction to take place in September. It is part of its share issuance programme announced at the time of its IPO in March.
Since then, VPC said it has invested 87% of its net IPO proceeds. It said it expects to pay its initial dividend for the period from admission to June 30 and said the yield on its existing portfolio is in line with its plan to provide a net dividend yield of 8.0%.
Shares in VPC were up 0.4% to 102.4375 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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