Last checked at 
8 Apr 2022 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
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