Luxembourg based Direct Lending Investment, advised by Smart Lenders, has created the first US Dollar denominated security that is backed by peer to peer, or marketplace, funded loans. As part of the process, Direct Lending Investment is using Orchard’s analytics technology, according to information received from the company.
Smart Lenders Asset Management Ltd (UK, FCA regulated, AIFM full scope) specializes in managing or advising assets that are exclusively invested in loans, issued through lending marketplaces, with an extensive automated data analysis process. Orchard is said to assist with an extensive automated data analysis process.
Direct Lending Investment provided the following details about the structure:
- 3 year Profit Participating Note issued by itself, a Luxembourg
- securitization company
- Program size: USD $100 million
- Listed and quoted on the Luxembourg Stock Exchange
- Trades with an ISIN code, cleared through Euroclear or ClearStream
- Denomination of one bond: USD $250,000, exclusively reserved to professional or qualified investors
- Smart Lenders Asset Management acts as the Investment Advisor to Direct Lending Investment sarl (Luxembourg)
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