View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 10, 2017updated 11 Aug 2017 10:10am

RM Secured Direct Lending pledges up to £10m for Praetura

By Saad Ahmed

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.

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.”

Mike 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”.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Thursday. The leasing industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Leasing Life