Fact Sheet Announcement

RNS Number : 1406L

Real Estate Credit Investments Ltd

12 May 2022

 

This announcement contains inside information

Date and time of release: 12 May 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 30 April 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 30 April 2022 was £1.506 per share, representing an increase of 0.7p per share from the 31 March 2022 NAV of £1.499 per share.
·	The change in NAV per share was due to:-
	Ø     1.0p of interest income; and
	Ø   0.3p 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.
·	During the month, RECI committed £15.8m across two loans:-
	Ø     £5.2m to a senior development loan for a co-living facility in France. This deal has an expected levered IRR of 14%, with an entry LTV of 65% and an expected exit date of April 2025.
	Ø   £10.6m to a senior development loan to support the development of an assisted living facility in London. This deal has an expected IRR of 8.8%, with an entry LTV of 55% and an expected exit date of July 2025.
·	During the month of April 2022, two loans repaid:-
	Ø     A core mezzanine loan in multiple locations in the UK repaid £22.7m. This deal repaid with an exit IRR of 10.2% and a multiple of 1.2x.
	Ø     A senior development loan in Dortmund, Germany repaid £3.8m. This deal repaid with an exit IRR of 8.1% and a multiple of 1.1x.
·	The Company expects to deploy its currently available cash resources in near term commitments and continues to see a growing pipeline of 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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