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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December 05, 2023 03:45 ET (08:45 GMT)

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