Fact Sheet Announcement

Real Estate Credit Investments Ltd

13 June 2023

 

This announcement contains inside information

Date and time of release: 13 June 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 May 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 31 May 2023 was £1.490 per share, representing an increase of 1.0p per share from the 30 April 2023 NAV of £1.480 per share. The change in NAV per share was primarily due to receipt of net interest income.
·	The Company intends to continue the rotation of the market bond portfolio into the funding of existing strong senior loans with attractive returns. As at 31 May the gross value of the bond portfolio was £33.4 million (30 April: £33.8 million). The Company expects to have closed out its bond position by the calendar year end.
·	At 31 May 2023, the Company's balance sheet leverage net of cash was 9.0% (30 April: 9.7%) and net effective leverage, including contingent liabilities being the partial recourse guarantees provided to certain asset level structured finance counterparties, was 10.0% (30 April: 10.8%).  Contingent liabilities represent 25% of asset level borrowings subject to partial recourse. At 31 May contingent liabilities were £3.6m (30 April: £3.6m).
·	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.

For further information please contact:

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

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