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BioPharma Credit (LSE: BPCR)

Currency in USD

Last close As at 25/01/2023

USD0.95

▲ −0.01 (−1.04%)

Market capitalisation

USD1,263m

BioPharma Credit was incorporated in the UK in October 2016 and aims to generate predictable income for shareholders over the long term through a diversified portfolio of loans and other instruments backed by royalties or other cash flows derived from sales of approved life sciences products. This includes senior secured notes, royalty debt instruments and priority royalty tranches.

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Biopharma Credit — A quality dividend play with FY22 yield of 12%

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Biopharma Credit — New transaction of up to US$50m

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Biopharma Credit — Fully invested after recent transactions
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Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Key Management

  • Alexander Perfall

    VP, Investor Relations & Public Affairs

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 0.2 2.6 (2.8)
Relative (3.7) (7.8) (6.3)
52 week high/low US$1.0/US$0.9

Overview

BioPharma Credit (BPCR) is on track to deliver a strong (possibly record-high) annual NAV total return (TR) in FY22 on the back of a high investment level in H122, rising interest rates benefiting its floating rate loans, as well as healthy prepayment and make-whole fees from the early loan repayments in recent months. This has allowed BPCR to announce a US$0.045 special dividend, which implies a 12.0% dividend yield for FY22 on the current share price. The above-mentioned fees also provide BPCR with a good income runway for the re-deployment of prepayment proceeds. Since being fully invested in August 2018, BPCR achieved a net NAV TR of c 8% per year.

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