RM Secured Direct Lending PLC Net Asset Value(s) (3061M)

TIDMRMDL TIDMTTM

RNS Number : 3061M

RM Secured Direct Lending PLC

16 September 2019

 
               RM Secured Direct Lending Plc and RM ZDP PLC 
 
                        ("RMDL" or the "Company") 
 
                        LEI: 213800RBRIYICC2QC958 
 
                             Net Asset Value 
 
 RMDL announces that its unaudited net asset value per ordinary 
  share as at 31 August 2019, on a cum income basis, was 99.00 
  pence (31 July 2019: 98.69 pence). 
 
      RM ZDP PLC announces that the unaudited accrued capital entitlement 
       per ZDP share as at 31 August 2019 was 105.00 pence (31 July 
       2019: 104.69 pence). 
 
       The NAV total return for the month was 0.31%, bringing the NAV 
       Total Return year to date figure to 5.89%. 
       Portfolio Activity 
       The Ordinary Share NAV as at 31(st) August 2019 was 99.00 pence 
       per share, which is 0.31 pence higher than at 31(st) July 2019, 
       comprising interest income net of expenses of 0.79 pence and 
       a decrease in portfolio valuations of 0.48 pence net of currency 
       hedges. 
       As at the 31(st) August 2019, the Company's portfolio consisted 
       of 35 debt investments with a weighted average yield of 8.67%, 
       spread across 14 sectors, with a percentage split between fixed 
       and floating rate debt of 57 to 43. The Investment Manager is 
       focused on reducing interest rate risk by keeping the tenors 
       on fixed rate investments generally shorter dated. Overall, the 
       portfolio has the following approximate breakdown: 59% represented 
       by directly originated private loans; 38% in club or syndicated 
       private loans; and 3% in more liquid corporate debt. Consequently, 
       private debt investments represent 97% of the portfolio. 
       The transaction highlights for the month are as follows: 
        *    énergie Fitness, the leading low-cost fitness 
             franchisor in the UK and Ireland; GBP6m new 
             investment to provide a comprehensive financing 
             package to support leading sustainable and impact 
             investor, Bridges Fund Management, in its acquisition 
             of énergie Fitness. The financing package 
             includes senior secured term loan and revolving 
             credit facilities. The health and fitness sector 
             remains a fastgrowing market and with an increasing 
             demand for high quality, low-cost operators. As the 
             sole lender RMDL's Investment Manager has structured 
             a highly covenanted, senior secured loan. 
 
 
        *    Partial Divestment Forecourt Operator; GBP2m to part 
             fund énergie Fitness above. 
 
 
        *    Additional drawdowns to existing transactions 
             previously documented and partially funded. 
 
 The Company also announces that the Monthly Report for the period 
  to 31 August 2019 is now available to be viewed on the Company 
  website: 
 https://rmdl.co.uk/investor-centre/monthly-factsheets/ 
 
                                   END 
 
  For further information, please contact: 
 RM Capital Markets Limited - Investment Manager 
 James Robson 
 Pietro Nicholls 
 Tel: [phone] 
 
 International Fund Management - AIFM 
 Chris Hickling 
 Shaun Robert 
 Tel: [phone] 
 
 Tulchan Group - Financial PR 
 James Macey White 
 Elizabeth Snow 
 Tel: [phone] 
 
 PraxisIFM Fund Services (UK) Limited - Administrator and Company 
  Secretary 
 Anthony Lee 
 Ciara McKillop 
 Tel: [phone] 
 
 Nplus1 Singer Advisory LLP - Financial Adviser and Broker 
 James Maxwell 
 Lauren Kettle 
 Tel: [phone] 
 
 About RM Secured Direct Lending 
 
 RM Secured Direct Lending Plc ("RMDL" or the "Company") 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://rmdl.co.uk/investor-centre/monthly-factsheets/ 
 

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 [e-mail] or visit www.rns.com.

END

NAVGGUMPBUPBGPW

(END) Dow Jones Newswires

September 16, 2019 02:01 ET (06:01 GMT)