PraxisIFM Fund Services (UK) Limited has worked with RM Capital Markets Limited (RM) on the initial public offering of RM Secured Direct Lending plc on the premium segment of the London Stock Exchange.
Gross proceeds of £50.3 million were raised following the issue.
The investment objective of RM Secured Direct Lending plc is to invest in a portfolio of secured debt instruments to UK SMEs and mid-market corporates. The company will target an annualised dividend yield of 6.5 per cent once fully invested.
‘We are delighted that RM has chosen to utilise our services as company secretary and administrator,’ said Anthony Lee, managing director of PraxisIFM Fund Services (UK) Limited, which is part of the PraxisIFM group of companies.
‘RM and our advisors were greatly helped by the professional support shown by PraxisIFM during the roadshow and launch process for our first London listed fund. We look forward to working with them’ said James Robson, head of direct lending, RM Capital Markets Limited.
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