Real Est Crd InvsLtd - Fact Sheet Announcement

Real Estate Credit Investments

12/01/2023 07:00

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RNS Number : 4457M  Real Estate Credit Investments Ltd  12 January 2023

This announcement contains inside information

 

Date and time of release: 12 January 2023, 7:00 am

 

Real Estate Credit Investments Limited

 

Investment Manager Fact Sheet

 

Real Estate Credit Investments Limited (the "Company"), a non-cellular company
incorporated in Guernsey, is pleased to announce that its Investment Manager's
monthly Fact Sheet as at 31 December 2022 is now available on the Company's
website at:

 

https://www.recreditinvest.com/investors/fact-sheets/
(https://www.recreditinvest.com/investors/fact-sheets/)

 

The highlights of the monthly update are provided below:

 

 ·         NAV as at 31 December 2022 was £1.482 per share, representing a decrease of
           2.0p per share from the 30 November 2022 NAV of £1.502 per share.
 ·         The change in NAV per share was due to:-
           Ø the payment of the second interim dividend of 3.0p, which went ex-dividend
           in December; and
           Ø 1.0p of interest income.
 ·         RECI's Total NAV Return for the 2022 calendar year was 5.9%.
 ·         During the month of December 2022, three loans fully repaid with the following
           returns:-
           Ø A Paris prime resi/retail building fully repaid with an exit IRR of 4.9%
           and a multiple of 1.2x;
           Ø A portfolio of six freehold French hotels fully repaid with an exit IRR of
           8.0% and a multiple of 1.3x; and
           Ø A hotel in the southeast of France fully repaid with an exit IRR of 6.9%
           and a multiple of 1.3x.
 ·         In December, a new loan on loan lending facility was signed. This will
           increase RECI's financing flexibility and assist with increasing portfolio
           returns and dividend cover.
 ·         The Company expects to deploy its currently available cash resources in near
           term commitments and continues to see a growing pipeline of senior loans at
           attractive floating rates.
 ·         RECI expects to re-invest their repayments into high returning deals in 2023.

 

For further information please contact:

 

 Broker:              Richard Crawley / Darren Vickers (Liberum Capital)  +44 (0)20 3100 2222
 Investment Manager:  Richard Lang (Cheyne)                               +44 (0)20 7968 7328

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