Alternative loan group Ranger Direct Lending (RDL) plans to raise up to £30m through a placing of zero dividend preference (ZDP) shares. The proposed issue of the ZDP shares, which will come with a five-year term and a 5 per cent gross redemption yield, is expected to conclude by the end of July.
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News of the fundraising, which Ranger will use to diversify its capital base, sent the listed share price down 3 per cent.
