Real Estate Credit Investments Ltd New Transaction
16 July 2024 - 11:11PM
RNS Regulatory News
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
|
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