Fact Sheet Announcement
Updated : 07:00
This announcement contains inside information
Date and time of release: 8 April 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 March 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 March 2022 was £1.499 per share, representing a decrease of 2.2p per share from the 28 February 2022 NAV of £1.521 per share. |
· | The change in NAV per share was due to:- |
| Ø the payment of the fourth interim dividend of 3.0p, which went ex-dividend in March, |
| Ø 1.0p of interest income; and |
| Ø 0.2p 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. |
· | Since 1 April 2021, the total NAV return for RECI was 7.2%. |
· | During the month of March 2022, RECI committed £20.0m to a senior development loan to support the development of an assisted living facility in London. This deal has an expected IRR of 8.5%, with an entry LTV of 60% and an expected exit date of December 2024. |
· | Since 1 April 2021, RECI has:- |
| Ø committed £171.8m to 12 deals across 6 countries; and |
| Ø fully realised a total of £94.8m across 6 deals. |
· | RECI paid out 4 dividends since 1 April 2021, totalling 12p. |
· | The pipeline for the Cheyne real estate debt business continues to grow in 2022, with many new attractive opportunities. |
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
|
-----END------
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.