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RM Infrastructure IncomeAnnouncement

18/05/2023 07:00

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RNS Number : 7755Z  RM Infrastructure Income PLC  18 May 2023

 RM Infrastructure Income Plc

 ("RMII" or the "Company")

 LEI: 213800RBRIYICC2QC958

 Net Asset Value

 NAV Performance

The NAV % Total Return for April 2023 was +0.09%, which takes the NAV % Total
 Return to +2.45% over the past six months, and +3.98% over the past 12 months.

 The NAV as at 30(th) April 2023 was 92.19 pence per Ordinary Share, which was
 0.085 pence higher than at 31(st) March 2023. This overall gain comprised
 positive interest income net of expenses of 0.253 pence per Ordinary Share and
 a decrease in portfolio valuations of 0.168 pence per Ordinary Share.

Portfolio Update

As at 30(th) April 2023, the Company's invested portfolio had an aggregate
 valuation of £122 million across 37 investments. The average yield was 9.77%,
 with a weighted average loan life remaining of circa 2 years. Overall, the
 portfolio is 96% invested in private market assets and 4% in public bonds. The
 Investment Manager's focus on creating a portfolio of high yielding and short
 duration loans that do not hold significant exposure to interest rate
 movements, ensures the portfolio remains well positioned against any further
 interest rate increases by global central banks.

 The net interest income for the period was lower than the target. This was
 predominantly driven by investment loan #89, a £5m CBILS junior facility
 secured against 5 operational & performing purpose-built student
 accommodation properties in the UK. During the period, the lending group moved
 to a recovery process. Accordingly, the principal outstanding was written down
 to its CBILS guarantee level of 80p and the associated accrued and unpaid
 interest was also written down. On an adjusted basis (i.e. excluding the write
 down), the net interest income for April would have been 0.55 pence per share,
 in line with target. RM believes the investment loan has now been marked
 appropriately based on the latest conservative recovery analysis.

 Finally, as indicated in the March 2023 Factsheet, Singer Capital Markets and
 Peel Hunt, joint financial advisers and brokers to the Company, will shortly
 be contacting Shareholders regarding the potential liquidity opportunity
 consultation.

 The Company also announces that the Monthly Report for the period to 30 April
 2023 is now available to be viewed on the Company website:

 https://rm-funds.co.uk/rm-infrastructure-income/rm-funds-investor-monthly-fact-sheets-2/

 END

 For further information, please contact:
 RM Capital Markets Limited - Investment Manager
 James Robson
 Thomas Le Grix De La Salle
 Tel: 0131 603 7060

 FundRock Management Company (Guernsey) Limited - AIFM
 Chris Hickling
 Dave Taylor
 Tel: 01481 737600

 Tulchan Group - Financial PR
 Elizabeth Snow
 Oliver Norgate
 Tel: 0207 353 4200

 Sanne Fund Services (UK) Limited - Administrator and Company Secretary
 Brian Smith
 Ciara McKillop
 Tel: 020 3327 9720

 Singer Capital Markers Advisory LLP - Financial Adviser and Broker
 James Maxwell
 Asha Chotai
 Tel: 020 7496 3000

 Peel Hunt LLP - Financial Adviser and Broker
 Luke Simpson
 Liz Yong
 Tel: 020 7418 8900

 About RM Infrastructure Income

 RM Infrastructure Income Plc ("RMII" or the "Company") 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.

 For more information, please see
 https://rm-funds.co.uk/rm-infrastructure-income/

 

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