Real Estate Credit Investments Ltd Fact Sheet Announcement
12 April 2024 - 8:00AM
RNS Regulatory News
RNS Number : 3337K
Real Estate Credit Investments Ltd
12 April 2024
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 2024 is now available on the
Company's website at:
https://realestatecreditinvestments.com/investors/fact-sheets/#currentPage=1
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As at 31 March 2024, the Company was
invested in a diversified portfolio of 31 investments with a
valuation of £304.8m.
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An interim dividend of 3p per share
was declared on 22 February 2024, to be paid to shareholders on the
register at the close of business on 15 March 2024; the ex-dividend
date was 14 March and it was paid on 5 April.
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During March, RECI was fully repaid
at par its position in a senior facility for a UK industrial site
development. RECI received net proceeds of c.£12m and achieved an
IRR of 9.2% for a deal with an LTV at inception of
59.3%.
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RECI continues to use its cash to
invest in its existing commitments in highly accretive wider
opportunities in senior mortgage lending.
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Cash Balance as at 31 March 2024 was
£23.9m. Net effective leverage currently stands at 1.2%.
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A full attribution of changes in the
NAV per share is presented in the table:
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February NAV
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146.6p
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Interest income
|
1.6p
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Asset valuations
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-0.6p
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FX
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0.1p
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Expenses
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-0.2p
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Dividend Payment
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-3.0p
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March NAV
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144.5p
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For further information please
contact:
Broker:
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Richard Crawley / Edward Mansfield
(Liberum Capital)
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+44 (0)20
3100 2222
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Investment Manager:
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IR@CheyneCapital.com
(Cheyne)
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+44
(0)20 7968 7450
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