REG - Real Est Crd InvsLtd - Investment Manager's Q3 Investor Presentation

Real Estate Credit InvestmentsAnnouncement

05/02/2024 07:00

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RNS Number : 9106B  Real Estate Credit Investments Ltd  05 February 2024

05 February 2024

 

Real Estate Credit Investments Limited

 

Investment Manager's Q3 Investor Presentation

 

Real Estate Credit Investments Limited ("RECI" or "the Company") is pleased to
announce that the Investment Manager's Q3 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: Q3 Investor Presentation Extract

 

Key Quarter Updates

 

•     Portfolio

‒    Total NAV Return for the quarter: -0.6% / Total NAV Return to Q3
2023 : +4.1%

‒    During the quarter, one UK loan fully repaid, realising net proceeds
of £9.4m, and providing headroom to invest in new deals at enhanced IRRs

‒    Rotation of market bond portfolio into strong senior loans with
attractive returns

•     Cash

-    Cash reserves remain targeted at between 5% to 10% of NAV

-    As at 31 December 2023, cash was £12.1m / 3.7% of NAV

•     Dividend

-    Dividends maintained at 3p per quarter, annualised 9.3% yield, based
on share price as at 31 December 2023

-    Dividends predominantly covered by net interest income generated from
RECI's assets. The aim is for dividend cover to totally come from net interest
income

•     Opportunities

-    The present macroeconomic backdrop is set to continue through 2024,
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

•     Citywire Investment Trust Awards 2023

-    RECI won the Best Performance award for Specialist Debt at Citywire's
London-listed Investment Companies awards held on 01 November 2023. The
performance awards are given to investment companies judged to have delivered
the best underlying return in terms of growth in NAV in the three years to 31
August 2023.

 

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