RM Infrastructure Income PLC Portfolio Update (7124V)
05 Diciembre 2023 - 2:45AM
UK Regulatory
TIDMRMII TIDMTTM
RNS Number : 7124V
RM Infrastructure Income PLC
05 December 2023
RM Infrastructure Income plc
("RMII" and the "Company")
Portfolio Update
LEI: 213800RBRIYICC2QC958
RMII provides an update on its investment in a hotel in Clyde
Street as follows.
The Company has investment loans (monthly factsheet references
#58, #80, #92 and #79) junior secured against and / or exposed to
the Virgin Clyde Street Hotel in the city-center of Glasgow,
Scotland. The senior secured lender has initiated an administration
process to recover value.
The Company's total nominal outstanding in respect of these
loans is circa GBP15m. Investment loans references #80, #92 and #79
(or circa 83% of nominal outstanding) are underwritten via
Coronavirus Business Interruption Loan Scheme ("CBILS") and / or
Recovery Loan Scheme ("RLS") facilities which benefit from a
partial contractual government-backed guarantee. Investment loan
reference #58 benefits from a valuable additional 3(rd) party
security package and has therefore been valued in accordance at
85p.
The Investment Adviser, RM Funds, has been positioning the
valuation of the above-mentioned loans at a conservative level for
some time, with the CBILS and RLS investment loans marked at their
government-backed guarantee level of 80p. As a result, the
Investment Adviser does not currently foresee any further write
downs of these loans is necessary and therefore does not expect any
impact on the Company's NAV.
For further information, please contact:
RM Infrastructure Income RMInfraCoSecmailbox@apexfs.group
plc
Norman Crighton
Singer Capital Markets
James Maxwell
Asha Chotai 020 7496 3000
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END
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