P2P Global Investments PLC Securitisation of consumer marketplace loans (9422K)
September 27 2016 - 4:54AM
UK Regulatory
TIDMP2P
RNS Number : 9422K
P2P Global Investments PLC
27 September 2016
27 September 2016
P2P Global Investments PLC
P2P Global Investments completes first ever securitisation of
consumer marketplace loans in EMEA
P2P Global Investments PLC (P2P GI), the first UK listed
investment trust dedicated to investing in loans originated via
marketplace lending platforms, confirms that it has completed the
first securitisation of consumer loans originated via a marketplace
platform in the EMEA region.
The securitisation is backed by UK consumer loans originated via
the Zopa platform. The bonds were rated by Moody's and Fitch
Ratings, and given the ratings of Aa3/AA- on the most senior notes,
the highest achieved so far for a marketplace transaction. The
senior notes priced at an attractive spread of 145bps over one
month LIBOR; the deal demonstrates close cooperation between Zopa
and MW Eaglewood. Deutsche Bank acted as Sole Arranger and Lead
Manager for the securitisation.
Simon Champ, CEO of MW Eaglewood Europe LLP, the manager of P2P
GI, said: "This transaction marks a positive step in enabling us to
deliver on our objective to both diversify the sources and reduce
the cost of our funding. The funds raised by the issue will now be
progressively deployed in line with the investment strategy and our
intention remains to steadily increase our leverage ratio to
100%."
"We believe our target rate of return, mostly paid out in
dividends, is particularly compelling in this ultra-low interest
rate environment."
MW Eaglewood Europe LLP +44 (0)20 7316 2280
Simon Champ
Liberum Capital Limited +44 (0)20 3100 2000
Tom Fyson
J.P. Morgan Cazenove +44 (0)20 7742 4000
William Simmonds
Media enquiries:
Boscobel & Partners +44 (0)203 642 1310
George Trefgarne
This information is provided by RNS
The company news service from the London Stock Exchange
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