Real Estate Credit Investments Ltd New Transaction

RNS Number : 4599W

Real Estate Credit Investments Ltd

16 July 2024

Real Estate Credit Investments Limited

("RECI" / the "Company")

New Transaction

RECI is pleased to announce that on 16 July 2024, the Company invested c.£18.5m (net of leverage) into the senior refinancing of a portfolio of 4-star upscale hotels in central London. The senior floating rate loan transaction is secured against four well-located London hotels that offer affordable rooms of a high standard, along with substantial meetings & events facilities. The loan features a conservative loan-to-value and an attractive risk-return profile. The Sponsor is a well-capitalised and publicly listed global hotel operator, with a significant equity position in the transaction.

The expected net returns to RECI are highly accretive towards its net income, will enhance dividend cover and support the Company in continuing to provide an attractive and stable income to investors.

This is the first investment by the Company for its financial year commenced 1 April 2024 from a pipeline of attractive opportunities identified by its investment manager, Cheyne Capital.

For further information please contact:

Investment Manager:	RECIIR@cheynecapital.com (Cheyne)	+44 (0)20 7968 7450
Broker:	Darren Vickers/Alex Collins (Panmure Liberum)	+44 (0)20 3100 2222

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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.

END

MSCXQLFFZDLBBBV

Real Estate Credit Inves... (LSE:RECI)
過去株価チャート
から 6 2024 まで 7 2024