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Renewal of Revolving Credit Facility

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RNS Number : 8928R
RM Secured Direct Lending PLC
01 November 2019
 

RM Secured Direct Lending plc

("RMDL" or the "Company")

LEI: 213800RBRIYICC2QC958

Renewal of Revolving Credit Facility

RMDL announces that it has renewed and amended its Revolving Credit Facility ("RCF") with OakNorth. Under the terms of the amended RCF, the Company may draw down loans up to an aggregate value of GBP 10.5 million, on materially similar terms as the Company's previous RCF. The new facility will expire in November 2020.

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, Portfolio Manager at RM Funds, commented:

"We are delighted to have renewed our RCF agreement with OakNorth. Since IPO, RMDL has gone from strength to strength as the portfolio grows and diversifies within higher yielding, secured lending opportunities. As we continue to provide investors with long-term and attractive returns, today's announcement ensures we are best placed to act quickly on the attractive pipeline of high-quality investments."

For further information, please contact:

 

RM Capital Markets Limited - Investment Manager

James Robson

Pietro Nicholls

 

0131 603 7060

 

Tulchan Group - Financial PR

Elizabeth Snow

Deborah Roney

 

0207 353 4200

PraxisIFM Fund Services (UK) Limited - Administrator and Company Secretary

Anthony Lee

Ciara McKillop

 

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 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.

 

For more information, please see https://rmdl.co.uk/investor-centre/

 

About RM Funds

 

RM Funds is a trading name of RM Capital Markets Limited ("RM"). RM is the Investment Manager to RM Secured Direct Lending PLC. RM specialises in alternative credit fund management, sales & trading, foreign exchange, and capital markets and advisory. Founded in 2010, with offices in Edinburgh, and London, it has transacted in excess of £50 billion of bonds and loans since its inception, and advised or originated, structured and managed the due diligence process for over £1 billion of Sterling credit transactions and approximately €700 million of Euro based transactions in each case since 2012.

 

       

 

 


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 [email protected] or visit www.rns.com.
 
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Quick facts: RM Secured Direct Lending

Price: 99.5

Market: LSE
Market Cap: £121.61 m
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