RM Secured Direct Lending PLC Revolving Credit Facility (7142V)
November 07 2017 - 2:00AM
UK Regulatory
TIDMRMDL TIDMRMCC
RNS Number : 7142V
RM Secured Direct Lending PLC
07 November 2017
7 November 2017
RM Secured Direct Lending Plc
("RMDL" or the "Company")
LEI: 213800RBRIYICC2QC958
GBP10M REVOLVING CREDIT FACILITY
RMDL, an investment trust specialising in secured debt
investments, announces that it has signed a Revolving Credit
Facility (the "RCF") of GBP10 million from OakNorth.
The RCF will provide the Company with flexible capital for
maintaining and preserving liquidity and general corporate purposes
including to invest in the substantial pipeline of investment
opportunities. RMDL will not incur any non-utilisation fees in
connection with the facility.
Pietro Nicholls, Principal - Investment Manager of RM Capital
Markets Limited, said:
"We are delighted to have signed this RCF with OakNorth which
provides us with additional flexibility following our recent
successful GBP30m equity raise, to act quickly on attractive
investment opportunities. We have an active pipeline of higher
yielding, secured lending opportunities which will further broaden
our portfolio and enable us to continue to deliver growing and
sustainable returns to shareholders."
In a joint statement, Ben Barbanel, Head of Debt Finance, and
Mohith Sondhi, Debt Finance Director at OakNorth, commented: "We
are very excited to have completed this transaction with RM Secured
Direct Lending - not only is this our first transaction with a
listed company, but it is also our first loan to an investment
trust. Our Credit Committee was reassured by the extensive
experience of the management team - over 120 years collectively -
as well as RMDL's strong track record and diversified portfolio.
Given that we have worked with RMDL on two transactions in the
past, we also had a good understanding of how they operate."
For further information, please contact:
RM Capital Markets Limited - Investment Manager
James Robson
Pietro Nicholls
Tel: 0131 603 7060
Nplus1 Singer Advisory LLP - Sponsor, Financial Adviser and
Broker
James Maxwell
James Hopton
Tel: 020 7496 3000
Tulchan Group - Financial PR
James Macey White
Elizabeth Snow
Tel: 0207 353 4200
International Fund Management - AIFM
Chris Hickling
Shaun Robert
Tel: 01481 737600
PraxisIFM Fund Services (UK) Limited - Administrator and Company
Secretary
Anthony Lee
Ciara McKillop
Trish Standaloft
Tel: 020 7653 9690
About RM Secured Direct Lending
RM Secured Direct Lending Plc 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/rmdl/investor-relations/
This information is provided by RNS
The company news service from the London Stock Exchange
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