Volta Finance Limited
Hieronder vindt u informatie uit het register openbaarmaking voorwetenschap. Deze informatie is door de organisatie verstrekt.
Publicatie datum
21 dec 2015 - 08:14
Statutaire naam
Volta Finance Limited
Titel
Volta Finance Limited : Net Asset Value(s)
Bericht
Volta Finance Limited (VTA) - November 2015 monthly report
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
*****
Guernsey, 18 December 2015
PERFORMANCE
At the end of November 2015, the Estimated NAV of Volta Finance Limited (the "Company", "Volta Finance" or "Volta") was €296.7m or €8.13 per share, an increase of €0.10 per share, or +1.2%, since the end of October 2015.
The YTD NAV performance for the 2015 calendar year, including the April dividend paid, stood at +10.0% as at the end of November.
The GAV stood at €344.4m at the end of November.
On 14 December 2015, the Company paid a further dividend of 31 cents per share, to shareholders on the register on 4 December 2015. On an ex-dividend basis, the Estimated NAV at 30 November 2015 would have been €7.82 per share.
Volta's share price has seen some weakness in recent weeks, commencing in late November and continuing into December. At the time of writing, the share price is trading at around a 19% discount to this ex-dividend Estimated NAV. This widening discount probably reflects the recent weakness and stress in the US loan market, the high yield markets and the broader credit markets.
We would note that valuations at the end of November already reflected a significant level of this stress. For example, as at the end of November:
Volta's USD CLO Equity tranches were priced, on average, at 55.1% of par (significantly below the 75.5% average price recorded at the end of June 2015). These assets were valued at €45.1m at the end of November and generated cash flows of €2.9m in the last 3 months (September/October/November), implying an annualised yield in excess of 26% of the end of November valuation.
Volta's USD CLO Debt tranches are priced, on average, at 88.5% of par (compared with 95.4% at the end of June 2015).
Datum laatste update: 01 september 2024