Offering a c11% yield and trading on a c23% discount to NAV, BGLF’s valuation is undemanding. That said, given the current environment we see no short-term catalyst for a re-rating. It is more a case of being paid to wait. We view BGLF’s dividend (7-8c pa, paid quarterly) as robust and well supported by the portfolio fundamentals. A rising interest rate environment has a modest positive impact on fund’s cash flows.
21 Sep 2022
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Blackstone Loan Financing Ltd. (BGLF:LON) | 59.5 0 0.0% | Mkt Cap: 263.4m
- Published:
21 Sep 2022 -
Author:
Charles Murphy -
Pages:
3
Offering a c11% yield and trading on a c23% discount to NAV, BGLF’s valuation is undemanding. That said, given the current environment we see no short-term catalyst for a re-rating. It is more a case of being paid to wait. We view BGLF’s dividend (7-8c pa, paid quarterly) as robust and well supported by the portfolio fundamentals. A rising interest rate environment has a modest positive impact on fund’s cash flows.