RMII Rm Infrastructure Income Plc

TIDMRMDL TIDMTTM

RNS Number : 9945B

RM Secured Direct Lending PLC

16 June 2021

 
                      RM Secured Direct Lending Plc 
 
                        ("RMDL" or the "Company") 
 
                        LEI: 213800RBRIYICC2QC958 
 
                             Net Asset Value 
 
 RMDL announces that its unaudited net asset value per ordinary 
  share as at 31 May 2021, on a cum income basis, was 96.08 pence 
  (30 April 2021: 94.74 pence). 
  NAV 
   The NAV % Total Return for the month was +1.42% which takes the 
   NAV % Total Return to +6.18% over the past six months and 13.03% 
   over the past 12 months. The Ordinary Share NAV as of 31(st) 
   May 2021 was 96.08 pence per Ordinary Share, which is 1.34 pence 
   higher than on 30(th) April 2021. This overall gain comprises 
   interest income net of expenses of 0.68 pence per Ordinary Share 
   and increases in portfolio valuations of 0.66 pence per Ordinary 
   Share (which includes all credit and currency movements). 
   Portfolio Activity 
   As of 31(st) May, the Company's portfolio consisted of 34 debt 
   investments with a weighted average yield of 8.92%, diversified 
   across 15 sectors and split 86% fixed rate and 14% floating rate. 
   The portfolio's allocation is 84% in bilateral private loans, 
   14% in syndicated private loans, and 2% in corporate bonds. The 
   portfolio had a weighted average life of 2.69 years at the month 
   end. 
   May was a very active month for the portfolio with several repayments 
   allowing the Investment Manager to selectively increase allocations 
   across the Social Infrastructure segment within the healthcare, 
   education, and accommodation sectors. These new allocations bring 
   current infrastructure investments to 41% of the portfolio which 
   rises to over 50% when the additional GBP13m of committed funding 
   is fully drawn which is expected to be over the next 12 months. 
   Repayments : 5 loans repaid totalling GBP10.2m with the key 
   highlight being the planned reduction of hotel exposure as the 
   GBP4.1m L'Oscar (loan ref 17) hotel loan matured. In addition 
   to this, the other repayments were two property bridging loans 
   (loan refs 45 & 48), Eurogarages (loan ref 44) and Mehilainen 
   (loan ref 51). 
   New investments : 4 new investments were made totalling GBP11m, 
   of which GBP8m was funded under the Coronavirus Business Interruption 
   Loan Scheme "CBILS"; increasing the partially (80%) government 
   guaranteed portion of the portfolio from 19% to 25% over the 
   month. Over the month, 91% of new capital deployed was to social 
   infrastructure with GBP2m to an education provider (loan ref 
   91) secured over their campus, GBP5m to a student accommodation 
   provider (loan ref 89) and GBP3m to Elysium a diversified healthcare 
   operator (loan ref 6). 
   ESG & Impact: The new investments made during the month are going 
   through the internal ESG screening metric, working with The Good 
   Economy, as well as the Impact Scoring process which will be 
   reported on later. 
   At an operational level, May was a strong month for portfolio 
   companies. Energie Fitness saw continued rebound in membership 
   numbers back to nearly 100,000 with continued strong momentum. 
   The Energie Fitness online digital platform initially developed 
   from a standing start during "lockdown 1" has delivered over 
   70,000 individual classes 
 
 The Company also announces that the Monthly Report for the period 
  to 31 May 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 
  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 
 
 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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June 16, 2021 02:00 ET (06:00 GMT)

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