Net Asset Value(s)

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 30th November 2019 was 98.45 pence per share, which is 0.21 pence higher than at 31st 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 5th December and will be paid on the 27th 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 30th 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 £4m bilateral private Loan, secured over real estate and benefiting from a 30-year Full Repairing & Insuring "FRI" lease with a listed hospitality group. § £5m 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.£6m 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 £2m participation in a private syndicated Loan to MFG, a leading independent forecourt operator within the UK, operating in excess of 900 sites. § An additional £2m 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: [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

Anthony Lee

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/

 

END

 

 

NAVGGGGPPUPBGMW