RMII Rm Infrastructure Income Plc

TIDMRMDL TIDMRMDZ TIDMTTM

RNS Number : 8872W

RM Secured Direct Lending PLC

16 December 2019

 
                RM Secured Direct Lending Plc and RM ZDP PLC 
 
                          ("RMDL" or the "Company") 
 
                          LEI: 213800RBRIYICC2QC958 
 
                               Net Asset Value 
 
 RMDL announces that its unaudited net asset value per ordinary 
  share as at 30 November 2019, on a cum income basis, was 98.45 
  pence (31 October 2019: 98.24 pence). 
 
      RM ZDP PLC announces that the unaudited accrued capital entitlement 
       per ZDP share as at 30 November 2019 was 105.88 pence (31 October 
       2019: 105.59 pence). 
 
       NAV 
       The NAV total return for the month was 0.21%, bringing the cumulative 
       year to date figure to 7.05%. 
       The Ordinary Share NAV as at 30(th) November 2019 was 98.45 pence 
       per share, which is 0.21 pence higher than at 31(st) October 
       2019, comprising interest income net of expenses of 0.58 pence 
       per share and a decrease in portfolio valuations of 0.37 pence 
       per share which includes all credit and currency movements. 
       During the month the Company announced a total dividend payable 
       in respect of Q3 2019 of 1.70 pence per share, which went ex-dividend 
       on the 5(th) December and will be paid on the 27(th) December. 
       This brings the total payments distributed to Shareholders over 
       last four quarters to 6.95 pence and a cumulative NAV return 
       over this period with dividends re-invested of 8.01%. 
       Portfolio Activity 
       As at the 30(th) November 2019, the Company's portfolio consisted 
       of 35 debt investments with a weighted average yield of 8.72%, 
       spread across 13 sectors, with a percentage split between fixed 
       and floating rate of 56% to 44%. The Investment Manager is focused 
       on reducing interest rate risk by keeping the tenors on fixed 
       rate investments generally shorter dated. 
       The portfolio has the following breakdown: 59% in bilateral private 
       loans; 36% in club or syndicated private loans; and 5% in more 
       liquid corporate debt. Consequently, private debt investments 
       represent 95% of the portfolio. 
       The transactions highlights for the month are as follows: 
        *    Four further drawdowns to Loans previously documented 
             with two borrowers. These loans relate to Social 
             Infrastructure and Energy Efficiency (Student 
             Accommodation & Receivables Finance). 
 
 
 
        *    A new GBP4m bilateral private Loan, secured over real 
             estate and benefiting from a 30-year Full Repairing & 
             Insuring "FRI" lease with a listed hospitality group. 
 
 
 
        *    GBP5m participation to a private syndicated Loan to 
             Busy Bees nurseries, a leading childcare provider 
             operating 374 nurseries across the UK and Ireland. 
 
 
 
        *    A new c.GBP6m social infrastructure investment to 
             Uninn Group, to fund four operating Student 
             Accommodation assets located across key university 
             cities, Newcastle, Sheffield, Leicester, and 
             Coventry. 
 
 
 
        *    An additional GBP2m participation in a private 
             syndicated Loan to MFG, a leading independent 
             forecourt operator within the UK, operating in excess 
             of 900 sites. 
 
 
 
        *    An additional GBP2m participation in a private 
             syndicated Loan to EG Group, the global independent 
             forecourt operator and convenience retailer operating 
             in excess of 5,000 sites. 
 
 
 
       These investments meet the Company's strict credit criteria and 
       the majority of the proceeds of the Company's recent fundraise 
       have now been deployed. 
 
 The Company also announces that the Monthly Report for the period 
  to 30 November 2019 is now available to be viewed on the Company 
  website: 
 https://rmdl.co.uk/investor-centre/monthly-factsheets/ 
 
                                     END 
 
  For further information, please contact: 
 RM Capital Markets Limited - Investment Manager 
 James Robson 
 Pietro Nicholls 
 Tel: 0131 603 7060 
 
 International Fund Management - AIFM 
 Chris Hickling 
 Shaun Robert 
 Tel: 01481 737600 
 
 Tulchan Group - Financial PR 
 James Macey White 
 Elizabeth Snow 
 Tel: 0207 353 4200 
 
 PraxisIFM Fund Services (UK) Limited - Administrator and Company 
  Secretary 
 Anthony Lee 
 Ciara McKillop 
 Tel: 020 7653 9690 
 
 Nplus1 Singer Advisory LLP - Financial Adviser and Broker 
 James Maxwell 
 Lauren Kettle 
 Tel: 020 7496 3000 
 
 About RM Secured Direct Lending 
 
 RM Secured Direct Lending Plc ("RMDL" or the "Company") is a 
  closed-ended investment trust established to invest in a portfolio 
  of secured debt instruments. 
 
 The Company aims to generate attractive and regular dividends 
  through loans sourced or originated by the Investment Manager 
  with a degree of inflation protection through index-linked returns 
  where appropriate. Loans in which the Company invests are predominantly 
  secured against assets such as real estate or plant and machinery 
  and/or income streams such as account receivables. 
 
 For more information, please see 
 https://rmdl.co.uk/investor-centre/monthly-factsheets/ 
 

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END

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