16th Dec 2019 15:32
(Alliance News) - RM Secured Direct Lending PLC it has received prepayment and accrued interest from existing investment Satcom Global.
RM Secured Direct Lending is an investment trust managed by RM Funds, part of RM Capital Markets Ltd. It invests in debt instruments backed by real assets such as property, company cash flow, or equipment.
RMDL said the prepayment could boost its net asset value by about 0.51 pence per share in December. At June 30, RMDL's NAV per share stood at 98.00 pence.
During December, Satcom prepaid loans totalling USD10.5 million.
Chief Investment Officer James Robson said: "We have worked with SatCom Global for many years. When RMDL listed in December 2016, SatCom was part of our initial portfolio of investments designed to offer shareholders stable and predictable returns. The portfolio has grown significantly since then to over 30 investments as we continue to source and execute high quality investment opportunities, all supported by tangible security packages all the while maintaining our strict investment criteria.
"This strategy has consistently delivered risk adjusted returns for shareholders over the last three years, and we remain confident in our ability to originate, structure, and manage, sustainable, high quality investments for RMDL shareholders."
The investor also said the "majority" of the GBP10.0 million raised in November has now been deployed.
"Two transactions were originated and structured by the investment manager, with one in social infrastructure and the other in an operational hotel financing. Both investments are consistent with RMDL's investment approach as they offer robust security packages and yield cash coupons in excess of 9.00% per annum," the company said.
Shares in RM Secured Direct Lending were up 0.8% in London on Monday afternoon at 100.34 pence each.
By Paul McGowan; [email protected]
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