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RM Secured Direct Lending mulls equity raise to fund investment opportunities

With the stock now trading at a premium to net asset value, the company is looking to tap the market

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The firm says it is confident in its ability to originate and close high quality investments

RM Secured Direct Lending PLC (LON:RMDL) is considering a potential equity raise to support its pipeline of investment opportunities.

The investment trust, which specialises in secured debt investments, said it is considering the issue of new ordinary shares at a premium to net asset value under its existing authorities.

Earlier this month the company said it continues to benefit from a strong pipeline and remains “confident in its ability to continue to originate and close high quality investments”.

The group also indicated that it has used its revolving credit facility.

“Further details of any proposed fundraising, which will be subject to prevailing market conditions, will be announced in due course,” the firm said.

Quick facts: RM Secured Direct Lending

Price: 100.5 GBX

LSE:RMDL
Market: LSE
Market Cap: £122.84 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

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