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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)

+44 (0)20 3100 2222

Investment Manager:

Richard Lang (Cheyne)  

+44 (0)20 7968 7328

 

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