RMDL.L Regulatory News (RMDL)

RM Secured Direct Lending PLC

Portfolio Update

Prepayment of Investment and subsequent NAV gain

Two new investments

RM Secured Direct Lending PLC (the "Company" or "RMDL"), the investment trust specialising in providing secured debt solutions, is pleased to announce that during the month of December it has received prepayment proceeds, accrued interest and principal from the refinancing of an existing investment, Satcom Global. The Investment Manager expects the prepayment proceeds to contribute c.51bps towards the Company's NAV for December to be announced on or around 16th January 2020.

Prepayment of Loan Facilities (SatCom)

Satcom Global is a leading provider of global satellite services to the maritime, land and aero markets, and a trusted supplier of marine and offshore safety systems and engineering services. RM Funds has worked with the company since 2015 in supporting the business and its growth strategy by providing flexible financial solutions.

In December 2019, Loans totalling $10,483,422m have been prepaid in accordance with the terms of the respective Loan agreements.

The combined prepayment proceeds are expected to total 0.51 pence per ordinary share, which will be reflected in the December 2019 NAV and announced in January 2020.

Deployment of November Capital Raise Proceeds

The majority of the proceeds of the Company's recent fundraise have now been deployed across a number of new and existing transactions. 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.

Further details of the two transactions funded by the Company's recent fundraise, together with RMDL's wider portfolio, will be detailed in the monthly factsheet expected to be published on or around the 16th December 2019.

James Robson, Chief Investment Officer, 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."

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About RM Secured Direct Lending

RM Secured Direct Lending PLC is a closed-ended investment trust established to invest in a portfolio of secured debt instruments. The Company aims to generate attractive and regular dividends through loans sourced or originated by the Investment Manager with a degree of inflation protection through index-linked returns where appropriate. Loans in which the Company invests are predominantly secured against assets such as real estate or plant and machinery and/or income streams such as account receivables.

About RM Funds

RM Funds is the Investment Manager to RM Secured Direct Lending PLC and VT RM Alternative Income Fund. RM Funds is a specialist alternative asset manager. Founded in 2010, with offices in Edinburgh, and London, it has transacted in excess of £50 billion of bonds and loans since its inception, and advised or originated, structured and managed the due diligence process for over £1 billion of Sterling credit transactions and approximately €700 million of Euro based transactions in each case since 2012.