Overview
Ranger Direct Lending ZDP 2021 : RDLZ forms part of the capital structure of Ranger Direct Lending.
More information can be found here
News
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12 Feb 2019 2 min read
Ranger Direct Lending Fund confirms new management and valuation arrangements
Ranger Direct Lending (RDL) has provided an update on the company’s management and valuation arrangements. As previously announced, RDL’s investment management agreement with Ranger Alternative Management II, LP terminates with effect from today (12 February 2019). The Company has appointed International Fund Management Limited (IFM) as its replacement Alternative Investment Fund Manager with immediate effect and, […]
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11 Jun 2018 2 min read
Ranger Direct Lending will wind up
Ranger Direct Lending will wind up – Ares Capital Management III LLC has notified the board of Ranger Direct Lending that it no longer wishes to take up the position as investment manager. The board has concluded, therefore, that it doesn’t make sense to keep the company going. It has decided to recommend that the […]
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08 Jun 2018 3 min read
Oaktree issues a further open letter to Rangers shareholders
Oaktree issues a further open letter to Rangers shareholders – In an ongoing to-ing and fro-ing of correspondence, on June 7th, Ranger Direct Lending (RDL) responded to the open letter to its shareholders from Oaktree Capital Management. (Click here to see a copy of the letter dated 7th June 2018 and previous letters). Asset manager, LIM Advisors, also published […]
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07 Jun 2018 2 min read
Ranger Direct Lending responds to Oaktree and intervention from LIM Advisors
Ranger Direct Lending responds to Oaktree and intervention from LIM Advisors – Ranger Direct Lending (RDL) responded to the open letter to its shareholders from Oaktree Capital Management. (Click here to see a copy of the letter dated 6th June 2018). Asset manager, LIM Advisors, also published its views on the performance of Rangers, which are similar to […]
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5 min read
A further letter to Ranger Direct Lending’s shareholders from Oaktree
A further letter to Ranger Direct Lending’s shareholders from Oaktree – On 4th of May 2018, we reported on an open letter from Oaktree Capital Management to the shareholders of Ranger Direct Lending (RDL) Click here to read a copy of the open letter and Rangers’ response. Oaktree has sent a further letter, dated June 6, 2018, as […]
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14 May 2018 1 min read
Investment Trust Insider on Ranger Direct Lending
Investment Trust Insider on Ranger Direct Lending James Carthew: Ranger board must give investors an exit A right royal row is underway about the future of Ranger Direct Lending (RDL). Letters are flying back and forth and PR companies are working overtime but Ranger’s shares continue to languish on the widest discount of any fund […]
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29 Jan 2018 2 min read
Ranger Direct Board asks Kinmont to review management arrangements
Ranger Direct Board asks Kinmont to review management arrangements – Ranger Direct Lending put in place a management contract at the time of its IPO with Ranger Alternative Management II, LP. The initial term finishes on 1 May 2018 and then there is a rolling one year notice period thereafter. On 1 November 2017, the Board announced that it, in conjunction […]
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15 Dec 2017 2 min read
Ranger slashes NAV again
Ranger slashes NAV again – Ranger Direct Lending has announced that it will make a further provision against Princeton/Argon and this will amount to a hit of about 3.8% to the end September NAV. The full text follows: “Further to the Company’s announcements regarding the bankruptcy proceedings in respect of Argon Credit, LLC and Argon X, […]
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14 Nov 2017 1 min read
Ranger takes another hit from Princeton
Ranger takes another hit from Princeton – Further to the announcements regarding the bankruptcy proceedings in respect of Argon Credit, LLC and Argon X, LLC, Ranger Direct Lending has been informed by the Princeton Alternative Income Fund Ltd that it intends to take an additional gross reserve of approximately $10.4 million against the Argon portfolio due to a […]
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01 Nov 2017 1 min read
Ranger in discussions with potential co-managers
Ranger in discussions with potential co-managers – Ranger Direct Lending’s board, in conjunction with Ranger Alternative Management II, LP, today announces that it is in discussions with potential co-managers who could assist in and strengthen some or all aspects of the manager’s current role and responsibilities, including identifying new lending categories, sourcing platform partnerships, conducting platform due […]
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26 Sep 2017 4 min read
No plan to tackle Ranger’s discount
No plan to tackle Ranger’s discount – Ranger Direct Lending has published its interim statement covering the six month period ended 30 June 2017. As Christopher Waldron, the chairman, points out, the first six months of 2017 has been a difficult period for Ranger Direct Lending, which has seen its share price fall to a […]
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02 Sep 2016 1 min read
Sirius Minerals Working on some Serious Financing with lenders
Sirius Minerals’ ambitions to build the world’s largest polyhalite mine in North Yorkshire, UK moves forward with a non-binding agreement for a US$2.6 billion debt facility for ‘Stage 2’ of mine development with six financial institutions; closing expected to take place in 2018. The agreement is subject to due diligence and securing US$ 1.09 […]
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22 Jul 2016 1 min read
Ranger Direct Lending conditional ZDP placement to raise £30m
Ranger Direct Lending has announced that it has conditionally placed 30 million zero dividend preference shares (ZDP Shares) at 100 pence per share to raise gross proceeds of £30m. The company says that the ZDP Shares will have a life of five years and a final capital entitlement of 127.63 pence per ZDP Share on […]
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06 Jun 2016 1 min read
Ranger Direct Lending looks to raise £30m through a ZDP issue
Ranger Direct Lending Fund has announced that, following consultation with potential investors, it intends to raise up to £30m through a placing of zero dividend preference shares (ZDP Shares). The Company currently expects the ZDP Shares to be issued with a 5 year term and a gross redemption yield of 5% per annum. The company […]
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12 Apr 2016 2 min read
Ranger Direct hopes to raise new capital to take advantage of SME lending opportunities
Ranger Direct Lending, which listed on the London Stock Exchange on 1 May 2015, has announced its annual results for its initial period from 10 April 2015 to 31 December 2015. During the period, the company’s NAV grew by 2.45%, whilst its share price grew by 2.50%. The company also paid 8.36p per share providing a […]
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10 Nov 2015 1 min read
Ranger Direct Lending planning C share
Ranger Direct Lending, which listed in May and is still only 76% invested (as at 9 November), says it is planning a C share issue to raise up to £135m. They say they anticipate full deployment of Ranger’s equity capital by early December, within its stated target of fully deploying the net proceeds raised at IPO […]
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12 Aug 2015 1 min read
Ranger Direct Lending was 19% invested at end June
Ranger Direct Lending has published its first set of figures covering the period from its launch on 25 March 2015 to the end of June. After initial launch costs of 1.63% of NAV, the Company had a NAV of $15.14 per share upon listing, with the NAV per share growing to $15.16 on 30th June […]
