TIDMRECI

RNS Number : 4425C

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 GBP1.490 per share, representing an 
         increase of 1.0p per share from the 30 April 2023 NAV of GBP1.480 
         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 GBP33.4 million (30 April: GBP33.8 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 GBP3.6m (30 April: GBP3.6m). 
   --   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:

 
                        Richard Crawley / Darren Vickers    +44 (0)20 3100 
 Broker:                 (Liberum Capital)                       2222 
                                                            +44 (0)20 7968 
 Investment Manager:    Richard Lang (Cheyne)                    7328

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