RM Infrastructure Income PLC New Investments (9022R)
11 Julio 2022 - 1:00AM
UK Regulatory
TIDMRMII TIDMTTM
RNS Number : 9022R
RM Infrastructure Income PLC
11 July 2022
RM Infrastructure Income plc
(the "Company" or "RMII")
Three new investments in social infrastructure totalling GBP11
million
RM Infrastructure Income plc, the specialist social and
environmental infrastructure secured lender, announces that it has
reached financial close on three social infrastructure loans. A
total of approximately GBP11 million has been allocated to targeted
infrastructure sectors, including the Company's first ESG
Sustainability linked loan.
Investment highlights
-- Social Infrastructure - Aged Care
Purpose: Construction of a 45-bed purpose-built aged care home,
located in SE England.
Investment Size: Up to GBP6 million Loan.
Tenor: 3 years.
Coupon: Floating, linked to Bank of England base rate, with
floor.
Credit Enhancement: RLS / Partial Government Guarantee.
ESG Sustainability Conditions: The loan contains a margin
ratchet, which is linked to environmental building standards, and
operational/governance conditions which align with the Company's
ESG reporting framework.
-- Social Infrastructure - Accommodation
Purpose: Acquisition and development of a PRS/co-living scheme
in Central London.
Investment Size: Up to GBP2 million Loan.
Tenor: 3 years.
Coupon: Floating, linked to Bank of England base rate, with
floor.
Credit Enhancement: RLS / Partial Government Guarantee.
-- Social Infrastructure - Childcare
Purpose: Acquisition of operational high performing,
London-based early years care business.
Investment Size: Up to GBP3 million Loan.
Tenor: 5 years.
Coupon: Floating, linked to Sterling Overnight Interest Average
(SONIA).
Credit Enhancement: RLS / Partial Government Guarantee.
All loans are secured via all-asset debentures, benefit from
limited exposure to interest rate risk, and offer an initial
weighted average cash yield of circa 10%.
Thomas Le Grix De La Salle, Co-Portfolio Manager, RM Funds
commented: "These investments support under-supplied critical
social infrastructure sectors. The investments' sub-sectors all
benefit from strong demographic and structural tailwinds, and each
loan's cash yield provides a real return when compared with
reported CPI inflation."
James Robson, Chief Investment Officer, RM Funds commented: "We
are delighted to have written our first sustainability linked loan
for RMII, with meaningful financial incentives for the borrower to
meet certain sustainability and service level objectives. These
loans suit both our borrowers' needs and the Company's objectives
with coupons linked to the Bank of England base rate or SONIA. In
an increasingly inflationary environment, RM Funds remain focused
on the maturity of the portfolio and increasing the protection
against inflation whilst supporting sectors and sub-sectors that
are broadly insulated from economic cycles."
END
For further information, please contact:
RM Funds - Investment Manager
James Robson
Thomas Le Grix De La Salle 0131 603 7060
Tulchan Communications LLP - Financial PR 0207 353 4200
Elizabeth Snow RMII@tulchangroup.com
Oliver Norgate
About RM Infrastructure Income PLC
RM Infrastructure Income plc aims to generate attractive and
regular dividends through investment in secured debt instruments of
UK Small and Medium sized Enterprises ("SMEs") and mid-market
corporates including any loan, promissory notes, lease, bond, or
preference share (such debt instruments, as further described in
the Annual Report, being "Loans") sourced or originated by RM Funds
(the "Investment Manager") with a degree of inflation protection
through index-linked returns where appropriate.
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END
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