Fact Sheet Announcement

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

-	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)	[phone]
Investment Manager:	[e-mail] (Cheyne)	[phone]

 

END