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QuotedData’s morning briefing 25 January 2021

In QuotedData’s morning briefing 25 January 2021:

  • RM Secured Direct Lending (which featured on the weekly show a couple of weeks ago) has received an increased allocation from the British Business Bank under the Coronavirus Business Interruption Loan Scheme (CBILS).  RM Funds was initially granted an allocation of HM Government Guarantee capacity in August 2020. This has now been fully deployed into businesses in RM Funds’ focus areas, representing c.11% of the company’s unaudited NAV as at 31 December 2020. The scheme enables lenders to provide loans of up to £5m, and the Government provides a Business Interruption Payment “BIP” option, whereby the first 12 months of interest on the loan and some upfront costs are paid by the Government. All CBILS loans benefit from a UK Government Guarantee, protecting 80% of the principal and 100% of the first year’s interest. [The announcement doesn’t say how much the allocation is in £s but this is good business for a fund such as RMDL].

We have interim results from Aberforth Split Level Income, some commentary on BB Biotech, news of acquisitions by Supermarket Income REIT, Sirius Real Estate and Home REIT, an update from AEW UK REIT and news of a new fund launch.

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