RM Secured Direct Lending Plc (‘RMDL’), an investment trust specialising in secured debt instruments, announces that, further to its announcements of 17 October and 6 November 2019, the Company has received commitments from investors for a total of £10 million (before costs and expenses) via the Placing.
Accordingly, a total of 10,000,000 new Ordinary Shares have been issued and allotted conditionally upon admission at the Placing Price of 100 pence per Ordinary Share.
James Robson, the Chief Investment Officer at RM Funds, commented:
“We are delighted with this latest, successful fundraise. The proceeds, combined with our renewed RCF, enables us to invest in our attractive pipeline of high yielding, secured lending opportunities. We are focused on maintaining our portfolio quality and diversity through our disciplined approach to investing in well established businesses, supported by strong security packages. We are confident that as we grow in size, we will continue our strong track record of delivering attractive returns to shareholders.”
Since its IPO in October 2016, RMDL has raised over £130 million in aggregate through the issue of ordinary and zero dividend preference shares.
N+1 Singer is acting as Sponsor, Financial Adviser and Broker to RM Secured Direct Lending Plc.
About RM Secured Direct Lending Plc
RM Secured Direct Lending Plc is a closed-ended investment trust established to invest in a portfolio of bespoke, higher-yielding 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.
Market Cap: £123 million*
Website: Click here
*As at 13/11/2019
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