Fact Sheet Announcement

RNS Number : 7211H

Real Estate Credit Investments Ltd

08 April 2022

 

This announcement contains inside information

Date and time of release: 8 April 2022, 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 31 March 2022 is now available on the Company's website at:

https://www.recreditinvest.com/investors/fact-sheets/

The highlights of the monthly update are provided below:

·	NAV as at 31 March 2022 was £1.499 per share, representing a decrease of 2.2p per share from the 28 February 2022 NAV of £1.521 per share.
·	The change in NAV per share was due to:-
	Ø the payment of the fourth interim dividend of 3.0p, which went ex-dividend in March,
	Ø 1.0p of interest income; and
	Ø 0.2p of negative mark-to-market ('MTM') adjustments across the bond portfolio, due to yield-widening across the corporate bond market, largely driven by the war in Ukraine and related considerations.
·	Since 1 April 2021, the total NAV return for RECI was 7.2%.
·	During the month of March 2022, RECI committed £20.0m to a senior development loan to support the development of an assisted living facility in London. This deal has an expected IRR of 8.5%, with an entry LTV of 60% and an expected exit date of December 2024.
·	Since 1 April 2021, RECI has:-
	Ø committed £171.8m to 12 deals across 6 countries; and
	Ø fully realised a total of £94.8m across 6 deals.
·	RECI paid out 4 dividends since 1 April 2021, totalling 12p.
·	The pipeline for the Cheyne real estate debt business continues to grow in 2022, with many new attractive opportunities.

For further information please contact:

Broker:	Richard Crawley / Darren Vickers (Liberum Capital)	[phone]
Investment Manager:	Richard Lang (Cheyne)	[phone]

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