REG - Real Est Crd InvsLtd - Fact Sheet Announcement

Real Estate Credit InvestmentsAnnouncement

12/04/2024 07:00

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RNS Number : 3337K  Real Estate Credit Investments Ltd  12 April 2024

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 March 2024 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)

 

 -                            As at 31 March 2024, the Company was invested in a diversified portfolio of 31
                              investments with a valuation of £304.8m.
 -                            An interim dividend of 3p per share was declared on 22 February 2024, to be
                              paid to shareholders on the register at the close of business on 15 March
                              2024; the ex-dividend date was 14 March and it was paid on 5 April.
 -                            During March, RECI was fully repaid at par its position in a senior facility
                              for a UK industrial site development. RECI received net proceeds of c.£12m
                              and achieved an IRR of 9.2% for a deal with an LTV at inception of 59.3%.
 -                            RECI continues to use its cash to invest in its existing commitments in highly
                              accretive wider opportunities in senior mortgage lending.
 -                            Cash Balance as at 31 March 2024 was £23.9m. Net effective leverage currently
                              stands at 1.2%.
 -                            A full attribution of changes in the NAV per share is presented in the table:

 

 February NAV      146.6p
 Interest income   1.6p
 Asset valuations  -0.6p
 FX                0.1p
 Expenses          -0.2p
 Dividend Payment  -3.0p
 March NAV         144.5p

 

 

For further information please contact:

 

 Broker:              Richard Crawley / Edward Mansfield (Liberum Capital)                 +44 (0)20 3100 2222
 Investment Manager:  IR@CheyneCapital.com (mailto:IR@CheyneCapital.com) (Cheyne)          +44 (0)20 7968 7450

 

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