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RNS Number : 7295F
Real Estate Credit Investments Ltd
09 November 2022
 

This announcement contains inside information

 

Date and time of release: 9 November 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 October 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 October 2022 was £1.490 per share, representing an increase of 0.7p per share from the 30 September 2022 NAV of 1.483 per share.

 

•     The change in NAV per share was due to:-

•     1.0p of interest income;

•     0.2p of negative mark-to-market ('MTM') adjustments across the bond portfolio, due to continued yield-widening across bond market; and

•     0.1p of operating costs.

•     During the month of October 2022, RECI committed £45.2m to a senior development loan to support the development of a student accommodation facility in London. This deal is floating rate, has an expected yield of 10.6%, an entry LTV of 55% and an expected exit date of December 2025.

 

•     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)

+44 (0)20 3100 2222

Investment Manager:

Richard Lang (Cheyne)  

+44 (0)20 7968 7328

 

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