REG - Real Est Crd InvsLtd - Investment Manager's Q1 Investor Presentation

Real Estate Credit InvestmentsAnnouncement

08/08/2023 07:00

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RNS Number : 5654I  Real Estate Credit Investments Ltd  08 August 2023

8 August 2023

 

Real Estate Credit Investments Limited

 

Investment Manager's Q1 Investor Presentation

 

Real Estate Credit Investments Limited ("RECI" or "the Company") is pleased to
announce that the Investment Manager's Q1 Investor Presentation is now
available on the Company's website at:

 

https://realestatecreditinvestments.com/investors/results-reports-and-presentations/#currentPage=1
(https://realestatecreditinvestments.com/investors/results-reports-and-presentations/#currentPage=1)

 

An extract from the Summary section of the presentation is set out for
investors in the Appendix to this announcement.

 

For further information, please contact:

 

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

 

 

Appendix: Q1 Investor Presentation Extract

 

Key Quarter Updates

 

•    Portfolio

 -     Total NAV Return for the quarter: +2.0%
 -     No defaults in the portfolio
 -     Rotation of market bond portfolio into strong senior loans with
 attractive returns
 -     During the quarter, two UK loans and one Portuguese loan fully repaid,
 realising net proceeds of £28.2m, and providing headroom to invest in new
 deals at enhanced IRRs

 

•    Cash

 -     Cash reserves remain targeted at between 5% to 10% of NAV
 -     As at 30 June 2023, cash was £27.8m.

 

•    Dividend

 -     Dividends maintained at 3p per quarter, 9.5% yield, based on share
 price, as at 30 June 2023
 -     Dividend predominantly covered by interest income

 

•    Opportunities

 -     The present macroeconomic backdrop is set to continue through 2023,
 resulting in further constraints in bank lending and alternative sources of
 capital. The opportunity to provide senior loans at low risk points, for
 higher margins, is increasingly evident
 -     The Company expects to deploy its currently available cash resources
 to its near term commitments and towards a compelling emerging opportunity set
 in senior loans

 

 

 

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