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RM Secured Direct Lending to boost its firepower

The company want to further diversify its existing portfolio, spread the fixed costs of running the company across a wider base and increase secondary market liquidity for investors

Pounds
The company has a placing programme in place as per the company's prospectus from March 2018

RM Secured Direct Lending PLC (LON:RMDL) has announced plans to place shares to satisfy the demand for new shares and increase its investment firepower.

The company intends to issue shares at a pound a pop, 1.5p below last night's closing mid-market price.

READ:RM Secured Direct Lending shifts focus to non-cyclical sectors amid market volatility

The investment trust, which specialises in secured debt investments, said it has deployed all cash available for investment, including the money available from its £10mln revolving credit facility, but it still has plenty of attractive investment opportunities it wants to pursue.


 

Quick facts: RM Secured Direct Lending

Price: 99.5 GBX

LSE:RMDL
Market: LSE
Market Cap: £121.61 m
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RM Secured Direct Lending eyes raising on the back of strong YTD performance

RM Secured Direct Lending (LON:RMDL) tells Proactive London that strong year to date figures mean it's seeking to raise up to £10mln from City institutions to continue investing in its “strong pipeline”. Head of Sourcing and Origination Pietro NIcholls is keen to underline the company's 'steady...

on 18/10/19

RNS

Holding(s) in Company

4 days, 13 hours ago

Holding(s) in Company

2 weeks, 6 days ago

Holding(s) in Company

3 weeks, 2 days ago

Net Asset Value(s)

3 weeks, 2 days ago

Result of Placing

4 weeks, 1 day ago

2 min read