Net Asset Value(s)

RNS Number : 1217D

RM Secured Direct Lending PLC

17 February 2020

 

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 31 January 2020, on a cum income basis, was 98.31 pence (31 December 2019: 97.79 pence).

RM ZDP PLC announces that the unaudited accrued capital entitlement per ZDP share as at 31 January 2020 was 106.47 pence (31 December 2019: 106.18 pence). NAV  The NAV total return for the month was 0.51%. This takes the 1 year NAV total return to 8% and the cumulative NAV total return since IPO to 18.4%. The Ordinary Share NAV as at 31st January 2020 was 98.31 pence per share, which is 0.52 pence higher than at 31st December 2019, comprising interest income net of expenses of 0.60 pence per share and a decrease in portfolio valuations of 0.08 pence per share which includes all credit and currency movements. Portfolio Activity As at the 31st January, the Company's portfolio consisted of 34 debt investments with a weighted average yield of 8.58%, spread across 13 sectors, with a percentage split between fixed and floating rate of 55% to 45%. 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 transaction highlights for the month are as follows: § six further drawdowns to Loans previously documented with two borrowers. These loans relate to Social Infrastructure and Energy Efficiency (Student Accommodation & Receivables Finance). § Two partial repayments of Loans. In addition to this the Investment Manager is finalising Due Diligence and documentation for a Loan secured against a Hotel which formed part of the pipeline for the capital raise conducted in Q4 2019. This will conclude the pipeline for this sector and the manager will continue to focus on sourcing Social Infrastructure assets such as Healthcare and Childcare opportunities secured on business assets and real estate.

The Company also announces that the Monthly Report for the period to 31 January 2020 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: [phone]

International Fund Management - AIFM

Chris Hickling

Shaun Robert

Tel: [phone]

Tulchan Group - Financial PR

James Macey White

Elizabeth Snow

Tel: [phone]

PraxisIFM Fund Services (UK) Limited - Administrator and Company Secretary

Brian Smith

Ciara McKillop

Tel: [phone]

Nplus1 Singer Advisory LLP - Financial Adviser and Broker

James Maxwell

Lauren Kettle

Tel: [phone]

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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