1st Nov 2019 15:09
(Alliance News) - RM Secured Direct Lending PLC said Friday it renewed a GBP10.5 million revolving credit facility with OakNorth which will now expire in November 2020.
The renewed facility is on "materially similar terms" to its previous revolving credit facility. The facility will provide the investment trust with fleixible capital to maintain and preserve liquidity as well as to invest in its "substantial pipeline of investment opportunities."
"We are delighted to have renewed our RCF agreement with OakNorth," RM Portfolio Manager Pietro Nicholls said.
"Since IPO, RMDL has gone from strength to strength as the portfolio grows and diversifies within higher yielding, secured lending opportunities," Nicholls added. "As we continue to provide investors with long-term and attractive returns, today's announcement ensures we are best placed to act quickly on the attractive pipeline of high-quality investments."
Shares in RM Secured were 0.4% higher at 99.90 pence in London on Friday.
By Ahren Lester; [email protected]
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