IN BRIEF: Marble Point loan net assets down, investment income up

Marble Point Loan Financing Ltd – Guernsey-based closed-end investor in senior secured floating rate, largely syndicated, dollar-denominated corporate loans held via secured loan obligations – Shows declining net asset value. The net asset value per share on September 30 fell 28% to $0.55 from $0.76 on December 31, 2021 and 30% from $0.78 a year earlier. However, investment income rose 44% to $5.9 million as of September 30, from $4.1 million a year ago.

Net assets attributable to outstanding common shares decrease 28% to $109.0 million as of September 30 from $151.7 million as of December 31, 2021 and fall 31% from $158.8 million for the year former.

Noting the war in Ukraine, the company says: “The adverse effects of geopolitical risks caused by the war have contributed to lower consumer morale, higher commodity prices, lower global production, economic uncertainty and catalyzed inflation. Although the extent of economic contraction will depend on the duration and intensity of war, which cannot be predicted with certainty, the company will continue to monitor developments and assess the potential negative influence on its investments and operations. As of the closing date, the company does not hold any investments with exposure to Russia or Ukraine.”

Current share price: 1.43 pence

Change over 12 months: +0.7%

By Tom Budszus; [email protected]

Copyright 2022 Alliance News Limited. All rights reserved.