RM Secured Direct Lending (RMDL), an investment fund providing asset-based lending, has committed £22m (€25m) for new investments.
The committed capital is part of the £30m raised through a C share issue in October. (C shares are not converted into ordinary shares until the money pooled is fully invested.)
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RMDL added that it was “in the advanced due diligence and documentation phase on a number of other prospective investments,” and consequently expected the C share capital to be “substantially invested” by the end of February.
RMDL’s lending targets UK SMEs and mid-corporates abroad. Its first dip into asset finance was in August 2017, when it provided a loan of £10m to Praetura Asset Finance, secured on the latter’s books.
In November, RMDL also agreed a £10m revolving credit facility from OakNorth, to increase its liquidity.
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