01 March 2018
Carey Olsen and Carey Group advise US loan specialist on LSE listing
Marble Point Loan Financing (MPLF) has successfully completed its admission to trading on the Specialist Fund Segment (SFS) of the London Stock Exchange (LSE), with assistance from Carey Olsen and Carey Group in Guernsey, alongside Herbert Smith Freehills who were lead counsel.
The Guernsey-domiciled closed-ended investment company, which raised $42.5 million in its initial public offering (IPO) and has a market capitalisation of $205.7 million, will invest in a diversified portfolio of US dollar denominated, broadly syndicated floating rate senior secured corporate loans directly and indirectly via collateralised loan obligations (CLOs) and related vehicles managed by Marble Point Credit Management, the fund's investment manager.
The Carey Olsen team advising MPLF on the Guernsey aspects of the admission was led by partner Annette Alexander and associate Jamie Oldfield.
Ms Alexander said: "The listing of Marble Point is significant milestone for the company and we were very pleased to assist them in achieving their objective. It also underlines the fact that Carey Olsen remains the go-to offshore law firm for London Stock Exchange listings."
Carey Group in Guernsey has been appointed as administrator and company secretary to MPLF. Stifel is the company's broker.
Chris Le Page, Carey Group client director, commented: "It was a real pleasure to work in synergy with Herbert Smith Freehills, Stifel and Carey Olsen to achieve this LSE listing with Marble Point Loan Financing (MPLF). Carey Group has enjoyed a long-standing relationship with MPLF since its inception, supporting its launch as a regulated fund in Guernsey, and we congratulate them on this significant achievement. We're looking forward to working alongside MPLF as their administrator and company secretarial provider and supporting this next key stage in the fund's growth plans."