Share Name Share Symbol Market Type Share ISIN Share Description
Rm Secured Direct Lending Plc LSE:RMDL London Ordinary Share GB00BYMTBG55 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 90.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
88.00 92.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 10.94 7.39 5.88 15.3 106
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 90.00 GBX

Rm Secured Direct Lending (RMDL) Latest News

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Rm Secured Direct Lending (RMDL) Discussions and Chat

Rm Secured Direct Lending Forums and Chat

Date Time Title Posts
23/7/202107:42RM Secured Direct Lending PLC20

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Rm Secured Direct Lending (RMDL) Top Chat Posts

a0002577: Today the company made this announcement - quite a coup. " RMDL is therefore the only listed debt fund with access to the CBILS scheme which supports new loans into our focus areas, whilst supporting British businesses and protecting shareholders capital by reducing downside exposures. The Investment Manager sees this as a major credit enhancement for any eligible new loans which can be facilitated under the scheme. https://www.british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils-2/Pipeline The CBILS scheme is due to finish at the end of September and the Investment Manager is progressing on several transactions which will be eligible under the scheme."
davebowler: Liberum; Dividend cover on track Mkt Cap £95m | Prem/(disc) -14.4% | Div yield 8.3% Event RM Secured Direct Lending's NAV per share at 31 May 2020 was 91.1p, representing a NAV total return of 2.3% for the month. The positive NAV performance was driven by net interest income of 0.5p (+0.6%) and an increase in portfolio valuations of 1.5p (+1.7%). At 31 May the portfolio consisted of 33 debt investments with a running yield of 9.5%. The portfolio is diversified across 13 sectors and mainly comprises bilateral private loans (60% of portfolio). The remainder is in club or syndicated private loans (38%) and more liquid corporate debt (2%). During May, the manager sold the £3.5m position in Premier Foods to repay the revolving credit facility and provide additional capital for investment opportunities. RMDL has also provided an update on the £4m asset backed corporate loan to Trent Capital. This is the second growth financing transaction, following a successful loan to ICP Nurseries (exited in 2019). These loans provide potential upside if the business executes its growth strategy and downside risk is mitigated by loan collateral. In the case of Trent Capital, RMDL owns 46% of the new equity for providing the growth financing (currently valued at nil). Trent Capital operates three businesses - Fusion Energy (energy efficiency solutions for households), Trianco (manufacture and distribution of electric boilders) and Grizzly Ovens (manufacturer of charcoal ovens). The collateral for the loan includes a mixed property portfolio and two commercial land parcels. The manager has provided support to Trent's management team since 2019. The manager will receive options of 15% over the equity in Trent (exercisable once the loan to RMDL has been fully repaid). Liberum view Portfolio performance has remained robust and RMDL is on track to generate dividend cover of c.1.1x for H1 2020. Loan valuations have also continued to recover following the significant mark-to-market movement in March. There is potential for additional NAV upside as the average mark on the portfolio is 92.52. The valuation is based on fair value estimates using a combination of third-party pricing (34% of the portfolio) and an independent valuation agent (66% of portfolio). RM Secured Direct Lending should be relatively well positioned in the direct lending sector given its flexible mandate and diversified portfolio. Downside risk is mitigated by collateral, loan structuring and covenant packages.
spectoacc: Interesting real price in the market. 6.5% yield target "in 2018" and more like 4% this year. Not seen a NAV RNS for a month but c.97.38p makes me reluctant to pay a premium - particularly since having considered RMDL & SQN, I've ended up very overweight SMEF, & all 3 operate in similar area. Good luck.
a0002577: Picked up a few more of these today for my SIPP at a price of 101 - so marked as a SELL. Looking forward to first dividend now. Seems to be ticking on well with loans being made at attractive yields.
fabiowelborn: Just tried buying RMDL into my SIPP and apparently its not eligible for this.
Rm Secured Direct Lending share price data is direct from the London Stock Exchange
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