TIDMRMDL TIDMTTM

RNS Number : 7313Y

RM Secured Direct Lending PLC

17 May 2021

 
               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 April 2021, on a cum income basis, was 94.74 pence 
  (31 March 2021: 93.49 pence). 
  NAV 
  The NAV % total return for the month was +1.34% which takes the 
  NAV % Total return to +6.69% over the past six months. The Ordinary 
  Share NAV as of 30(th) April 2021 was 94.74 pence per Ordinary 
  Share, which is 1.25 pence higher than on 31(st) March 2021. 
  This overall gain comprises interest income net of expenses of 
  0.51 pence per Ordinary Share and increases in portfolio valuations 
  of 0.74 pence per Ordinary Share (which includes all credit and 
  currency movements). 
  Portfolio Activity 
  As of 30(th) April, the Company's portfolio consisted of 35 debt 
  investments with a weighted average yield of 8.39%, diversified 
  across 14 sectors and split 82% fixed rate and 18% floating rate. 
  The portfolio's structure is 79% in bilateral private loans, 
  18% in syndicated private loans, and 3% in corporate bonds. The 
  portfolio had a weighted average life of 2.70 years at the month 
  end. 
  During April, RM closed a primary GBP13m loan commitment to a 
  care home development in the north west of England. It will be 
  drawn over the course of the next 12 months and is listed on 
  page 5 as transaction 88 with GBP2m of cash funded at drawdown. 
  With a coupon of 9.25% and an expected IRR more than 11%, this 
  loan will provide funding for a key social infrastructure asset 
  required to meet a shortage of aged care beds within our communities. 
  April was a robust month for portfolio performance as the economy 
  continued along the roadmap of lockdown restrictions being lifted 
  as set out by the Government. Gyms were able to re-open on 12(th) 
  April in England and consequently Energie Fitness saw significant 
  demand from customers who were keen to get back into their health 
  and fitness routine; this loan valuation will be revisited next 
  month once the effects of a full month of trading can be reviewed. 
  The German auto-parts business has had an excellent trading period 
  and the loan has been revised higher by 10% of par value to 95.00; 
  this is expected to revert to par in the near term. This increase 
  has been the major contributor to this month's portfolio valuation 
  growth. As in previous quarters the two largest hotel exposures 
  (loan references 66 & 67) paid their interest in cash. 
  The full portfolio is set out on page 5 of the monthly factsheet. 
  The ZDP shares came to the end of their 3-year life on 6(th) 
  April 2021 and replacement funding was secured by way of a GBP12m 
  term loan from OakNorth Bank. The Company's existing Revolving 
  Credit Facility was undrawn at month end. 
 
 The Company also announces that the Monthly Report for the period 
  to 30 April 2021 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: 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 
 
 Nplus1 Singer 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 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/ 
 

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END

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May 17, 2021 02:00 ET (06:00 GMT)

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