REG - Real Est Crd InvsLtd - Fact Sheet Announcement

Real Estate Credit InvestmentsAnnouncement

13/06/2023 07:00

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RNS Number : 4425C  Real Estate Credit Investments Ltd  13 June 2023

This announcement contains inside information

 

Date and time of release: 13 June 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 May 2023 is now available on the Company's website
at:

 

https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1
(https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Frealestatecreditinvestments.com%2Finvestors%2Ffact-sheets%2F%23currentPage%3D1&data=05%7C01%7CKitten.Ozanne%40aztecgroup.co.uk%7Cc57d48098cc044cef33c08db46fca8cf%7C5f75785019e44329bc48045f1fe3eecd%7C0%7C0%7C638181823255240174%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=JzKf39S6BljvT2QFxbzoEHbH6r8sSJr4LQWAgj3xfgk%3D&reserved=0)

 

The highlights of the monthly update are provided below:

 

 ·         NAV as at 31 May 2023 was £1.490 per share, representing an increase of 1.0p
           per share from the 30 April 2023 NAV of £1.480 per share. The change in NAV
           per share was primarily due to receipt of net interest income.
 ·         The Company intends to continue the rotation of the market bond portfolio into
           the funding of existing strong senior loans with attractive returns. As at 31
           May the gross value of the bond portfolio was £33.4 million (30 April: £33.8
           million). The Company expects to have closed out its bond position by the
           calendar year end.
 ·         At 31 May 2023, the Company's balance sheet leverage net of cash was 9.0% (30
           April: 9.7%) and net effective leverage, including contingent liabilities
           being the partial recourse guarantees provided to certain asset level
           structured finance counterparties, was 10.0% (30 April: 10.8%).  Contingent
           liabilities represent 25% of asset level borrowings subject to partial
           recourse. At 31 May contingent liabilities were £3.6m (30 April: £3.6m).
 ·         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.

 

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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