RM Secured Direct Lending looks to raise new cash

By Daniel Lanyon on 25th July 2019

Alternative Credit

The investment trust, which specialises in secured debt investments has maintained strong performance since launching two years ago.

RM Secured Direct Lending looks to raise new cash
Image source: Photo by rawpixel.com from Pexels

RM Secured Direct Lending is exploring new options to raise further funds through a potential issue of new shares.

RM last raised money in March, with gross proceeds of £11.33m via a C share issue and £10.87m through the issue of Zero Dividend Preference shares (ZDPs).  

It also recently scored a £10m revolving credit facility that is now fully committed and drawn down. 

The fund says it is still benefiting from a strong pipeline and optimistic in finding new lending opportunities. The investment trust trades at a 3.6 per cent premium to net asset value (NAV), reflecting strong demand from investors. It has a 6.4 per cent yield.

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