Source - LSE Regulatory
RNS Number : 1638Z
Real Estate Credit Investments Ltd
12 May 2023
 

This announcement contains inside information

 

Date and time of release: 12 May 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 30 April 2023 is now available on the Company's website at:

 

https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1

 

The highlights of the monthly update are provided below:

 

·   

NAV as at 30 April 2023 was £1.480 per share, representing an increase of 1.1p per share from the 31 March 2023 NAV of £1.469 per share

·   

The change in NAV per share was primarily due to receipt of net interest income

·   

During the month the Company continued the rotation of the market bond portfolio into the funding of existing strong senior loans with attractive returns

·   

At 30 April 2023, the Company's balance sheet leverage net of cash was 9.7% and net effective leverage, including contingent liabilities being the partial recourse guarantees provided to certain asset level structured finance counterparties, was 10.8%. The Company had £59.7m borrowings, £26.7m cash and £3.6m contingent liabilities (representing 25% of asset level borrowings subject to partial recourse)

·   

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

·   

The Investment Manager has released its latest Company Update presentation today (12 May), which is available on the Company's website

 

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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