TIDMRMII TIDMTTM

RNS Number : 9897L

RM Infrastructure Income PLC

16 September 2021

 
                                 RM INFRASTRUCTURE INCOME 
 
                                ("RMII" or the "Company") 
 
                                LEI: 213800RBRIYICC2QC958 
 
                                     Net Asset Value 
 
            RMII announces that its unaudited net asset value per ordinary 
             share as at 31 August 2021, on a cum income basis, was 97.69 
             pence (31 July 2021: 95.60 pence). 
 
             NAV 
             The NAV % Total Return for the month was +2.18% which takes the 
             NAV % Total Return to +6.58% over the past six months and 13.80% 
             over the past 12 months. The Ordinary Share NAV as of 31st August 
             2021 was 97.69 pence per Ordinary Share, which is 2.08 pence 
             higher than on 31(st) July 2021. This overall gain comprises 
             interest income net of expenses of 0.58 pence per Ordinary Share 
             and increases in portfolio valuations of 1.50 pence per Ordinary 
             Share (which includes all credit and currency movements). 
             Portfolio Activity 
             As of 31st August, the Company's portfolio consisted of 34 investments 
             with a weighted average yield of 8.87%. c.46% of the portfolio 
             was invested within the Company's core sectors; Social & Environmental 
             infrastructure, an increase from c.35% as of 30th April. Overall, 
             the portfolio is diversified across 13 sectors and split 85% 
             fixed rate and 15% floating rate. The portfolio's allocation 
             at the month end was 79% in bilateral private loans, 15% in syndicated 
             private loans, 2% in corporate bonds and 4% in a fully owned, 
             unlevered real estate asset. The portfolio had a weighted average 
             life of 2.57 years at the month end. 
             August saw continued credit enhancements as assets recovered, 
             which led to a significant revaluation of some loans that had 
             been marked lower during the Covid pandemic. These businesses 
             have, in the most part, displayed continued robust operational 
             performance throughout the pandemic. This has been reported to 
             investors previously; furthermore, it is expected that there 
             will be continued credit improvements across the portfolio in 
             coming months. 
             The following loans were the key components of the valuation 
             uplifts: 
              *    Energie Fitness - business has returned to 92% 
                   pre-covid levels and moving to cash pay on interest 
                   during Q3. Moved from 82% to 92% of nominal value. 
 
 
              *    Hotel exposure - the two largest hotel loans have had 
                   an uninterrupted debt service throughout the pandemic 
                   and have a material liquidity reserve controlled by 
                   the lender. Moved from 95% to 100% of nominal value. 
 
 
              *    Beinbauer - the loan now has better credit metrics 
                   than at the initial underwriting stage. Moved from 
                   95% to 100% of nominal value. 
 
 
 
             As Beinbauer has returned to the original loan terms which was 
             50% cash payment (50% PIK) and Energie Fitness is returning to 
             cash payment during Q3, it is expected that the ratio between 
             Cash and PIK will improve significantly as we move into the latter 
             part of 2021. 
 
 
 
   The Company also announces that the Monthly Report for the period 
   to 31 August 2021 is now available to be viewed on the Company 
   website: 
 https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/ 
 
 
                                            END 
 
 
   For further information, please contact: 
 RM Capital Markets Limited - Investment Manager 
 James Robson 
 Pietro Nicholls 
  Thomas Le Grix de La Salle 
 Tel: 0131 603 7060 
 
 International Fund Management - AIFM 
 Chris Hickling 
 Shaun Robert 
 Tel: 01481 737600 
 
 Tulchan Group - Financial PR 
 James Macey White 
 Elizabeth Snow 
 Tel: 0207 353 4200 
 
 PraxisIFM Fund Services (UK) Limited - Administrator and Company 
  Secretary 
 Brian Smith 
 Ciara McKillop 
 Tel: 020 4513 9260 
 
 Singer Capital Markets Advisory LLP - Financial Adviser and 
  Broker 
 James Maxwell 
 Asha Chotai 
 Tel: 020 7496 3000 
 
 Peel Hunt LLP - Financial Adviser and Broker 
 Luke Simpson 
 Liz Yong 
 Tel: 020 7418 8900 
 
 About RM Infrastructure Income 
 
 RM Infrastructure Income plc ("RMII" 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://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/ 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NAVDKABBOBKKBCD

(END) Dow Jones Newswires

September 16, 2021 03:23 ET (07:23 GMT)

Rm Infrastructure Income (LSE:RMII)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Rm Infrastructure Income.
Rm Infrastructure Income (LSE:RMII)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Rm Infrastructure Income.