RM Secured Direct Lending Set To Change Name As Social And Environmental Focus Intensifies
RM Secured Direct Lending (RMDL) made good progress in directing all new lending to six key areas. It is defined for a name change to RM’s social and environmental infrastructure income, as shown below.
‘All new loans are allocated to social and environmental infrastructure assets ”
“RM Funds (the director of RMDL) has made good progress in the growth wallet in line with the focus on all new loans allocated to social and environmental infrastructure assets in six target sectors:
- Health care
- Childcare and education
- Clean energy and renewable energies
- Waste Management
- Energy efficiency and carbon reduction
The revised investment strategy gives the company’s investors additional exposure to critical infrastructure assets at the forefront of providing essential services to the company, less correlated to the broader business cycle and with attractive risk-adjusted returns in line with performance targets by RMDL.
The manager has an attractive portfolio of high quality transactions in its six target sectors with robust credit indicators and returns significantly higher than those which would be available on the public markets. “
Social and environmental infrastructures reach 28% of the portfolio
“Another investment in the health sector was closed during the month of April, bringing the percentage of the portfolio invested in social and environmental infrastructure to 28%. This percentage is expected to reach 35% when the commitments to be funded over the next 12 months are taken into account. The manager expects that by the end of 2021, more than 50% of the portfolio will be invested in the target sectors.
In addition, RM Funds provided additional funding under the Coronavirus Business Interruption Loan (CBILS) program for eligible borrowers, as a result of which CBILS loans now represent 22% of unaudited loans in force. NAV, considerably improving exposure to the portfolio’s counterparties. The manager expects existing pre-qualified borrowers to have access to around £ 8million in additional CBILS financing by the end of the month. “
The name should be changed to RM Social & Environmental Infrastructure Income
“To ensure consistency between the name of the company and its renewed investment focus on loans to the social and environmental infrastructure sectors, the company confirms that on May 11, 2021, in accordance with the powers conferred by the company’s articles of association, the Read our guide to Boards and Directors" class="glossary_term">advice decided to change the name of the company to RM Social & Environmental Infrastructure Income PLC.
RMDL makes the necessary filings with the Registrar of Companies to effect the name change; however, it is expected that there will be a delay in Companies House to effect the change. Another announcement will be made at that time. Along with the name change, the company’s ITLOS will become “RMII”. Of the society IS IN and SEDOL will remain unchanged. The company will seek to change the sector classification in due course. “
RMDL: RM Secured Direct Lending set to change name as social and environmental focus intensifies