RM Secured Direct Lending (RMDL) has made its first investment into the asset finance industry by pledging up to £10m (€11.1m) in loans to Praetura Asset Finance.
Praetura was founded in 2014 and provides asset finance and leasing solutions of £10,000 to £3m to a variety of sectors including construction, plant engineering, and agriculture.
Go deeper with GlobalData
The agreement from RMSD came with an initial commitment of £5.5m, and will be used to support Praetura’s lending portfolio. Earlier this year, Praetura reported its strongest Q1 results, achieving a 35% rise in lending.
The investment is secured against Praetura’s lending book which is composed of more than 500 asset finance transactions. US Bank will act as a security trustee.
Pietro Nicholls, principal, RM Capital, said: “This transaction is a good example of our market proposition, secured debt solutions for established businesses in favourable markets.
“This investment required bespoke structuring and documentation, and represents the high degree of confidence we have in Praetura Asset Finance, and the management team.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataMike Hartley, managing director, Praetura Asset Finance said: “RMDL have provided a flexible facility to support PAF and we look forward to working with the team in the coming years as we deliver on our ambitious growth plans.
“The long-term nature of this funding and ongoing commitment by RMDL alongside our senior funders means we can continue to provide quick, efficient and flexible funding to UK SMEs”.
