RM Secured Direct Lending (RMDL) has been making good progress in directing all new lending to six core sectors. It is set for a name change to RM Social & Environmental Infrastructure Income, as outlined below.
‘All new lending being allocated to social & environmental infrastructure assets’
“RM Funds (RMDL’s manager) has made good progress in growing the portfolio in line with its focus on all new lending being allocated to social & environmental infrastructure assets across six target sectors:
- Accommodation
- Healthcare
- Childcare & Education
- Clean Energy & Renewables
- Waste Management
- Energy Efficiency & Carbon Reduction
The revised investment strategy gives the company’s investors further exposure to critical infrastructure assets at the forefront of providing essential services to society, less correlated to the broader economic cycle and with appealing risk-adjusted returns in line with RMDL’s performance targets.
The manager has an attractive pipeline of high-quality transactions across its six target sectors with robust credit metrics and significantly higher yields than would be available in the public markets.”
Social & environmental infrastructure reaches 28% of the portfolio
“A further healthcare investment closed during the month of April taking the percentage of the portfolio invested in social & environmental Infrastructure to 28%. This is expected to rise to 35% when commitments to be funded over the next 12 months are considered. The manager anticipates that by year-end 2021 over 50% of the portfolio will be invested within the target sectors.
In addition, RM Funds provided additional funding under the Coronavirus Business Interruption Loan Scheme (CBILS) for eligible borrowers, following which CBILS loans now account for 22% of prevailing unaudited NAV, significantly enhancing the portfolio’s counterparty exposure. The manager expects existing pre-qualified borrowers to access a further c.£8m in CBILS funding by the end of the month.”
Name set to change to RM Social & Environmental Infrastructure Income
“To ensure consistency between the name of the company and its refreshed investment focus on lending to Social & Environmental Infrastructure sectors, the Company confirms that on 11 May 2021, pursuant to the powers conferred under the Company’s Articles of Association, the Board resolved to change the Company’s name to RM Social & Environmental Infrastructure Income PLC.
RMDLis making necessary filings at the Registrar of Companies to effect the change of name; however, there is expected to be a delay in Companies House effecting the change. A further announcement will be made at that time. In conjunction with the change of name, the Company’s TIDM will change to ‘RMII’. The Company’s ISIN and SEDOL will remain unchanged. The Company will be seeking a change to sector classification in due course.”
RMDL: RM Secured Direct Lending set for a name change as social & environmental focus intensifies