Marble Point Loan Financing Ltd - Guernsey-based closed-ended investor in dollar denominated, broadly syndicated floating rate senior secure corporate loans owned via collateralised loan obligations - Posts falling net asset value. NAV per share at September 30 falls 28% to $0.55 from $0.76 on December 31, 2021 and is down 30% from $0.78 a year prior. However, investment income grows 44% to $5.9 million at September 30 from $4.1 million a year ago.
Net assets attributable to ordinary shares outstanding decrease 28% to $109.0 million at September 30 from $151.7 million on December 31, 2021 and fall 31% from $158.8 million a year prior.
Noting the war in Ukraine, the firm says: ‘The adverse effects of geopolitical risks caused by the war have contributed to lower consumer sentiment, higher commodity prices, diminished global output, economic uncertainty and catalysed inflation. Although the magnitude of economic contraction depends on the duration and intensity of the war, which cannot be predicted with certainty, the company will continue to monitor developments and assess for potentially adverse influence on its investments and operations. As at the reporting date, the company does not hold any investments with material direct exposure to Russia or Ukraine.’
Current stock price: 1.43 pence
12-month change: up 0.7%
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