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
| - | As at 31 March 2024, the Company was invested in a diversified portfolio of 31 investments with a valuation of £304.8m. |
| - | 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. |
| - | 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%. |
| - | RECI continues to use its cash to invest in its existing commitments in highly accretive wider opportunities in senior mortgage lending. |
| - | Cash Balance as at 31 March 2024 was £23.9m. Net effective leverage currently stands at 1.2%. |
| - | A full attribution of changes in the NAV per share is presented in the table: |
| February NAV | 146.6p |
| Interest income | 1.6p |
| Asset valuations | -0.6p |
| FX | 0.1p |
| Expenses | -0.2p |
| Dividend Payment | -3.0p |
| March NAV | 144.5p |
For further information please contact:
| Broker: | Richard Crawley / Edward Mansfield (Liberum Capital) | +44 (0)20 3100 2222 |
| Investment Manager: | IR@CheyneCapital.com (Cheyne) | +44 (0)20 7968 7450 |
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