Fact Sheet Announcement

RNS Number : 4457M

Real Estate Credit Investments Ltd

12 January 2023

 

This announcement contains inside information

Date and time of release: 12 January 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 31 December 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 December 2022 was £1.482 per share, representing a decrease of 2.0p per share from the 30 November 2022 NAV of £1.502 per share.
·	The change in NAV per share was due to:-
	Ø the payment of the second interim dividend of 3.0p, which went ex-dividend in December; and
	Ø 1.0p of interest income.
·	RECI's Total NAV Return for the 2022 calendar year was 5.9%.
·	During the month of December 2022, three loans fully repaid with the following returns:-
	Ø A Paris prime resi/retail building fully repaid with an exit IRR of 4.9% and a multiple of 1.2x;
	Ø A portfolio of six freehold French hotels fully repaid with an exit IRR of 8.0% and a multiple of 1.3x; and
	Ø A hotel in the southeast of France fully repaid with an exit IRR of 6.9% and a multiple of 1.3x.
·	In December, a new loan on loan lending facility was signed. This will increase RECI's financing flexibility and assist with increasing portfolio returns and dividend cover.
·	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.
·	RECI expects to re-invest their repayments into high returning deals in 2023.

For further information please contact:

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

-----END------

 

END

 

 

DOCFLFSDLFILLIV