We are pleased to announce that Liberum acted as Sole Bookrunner on a Placing to raise £78m for Real Estate Credit Investments through the issue of 45,882,353 shares at 170p.
The proceeds of the placing are to be invested in debt secured by commercial or residential properties in the United Kingdom and Western Europe. RECI is a closed-ended investment company, externally managed by Cheyne Capital Management (UK) LLP. To achieve their investment objective of attractive and stable returns, primarily in the form of quarterly dividends, the Company invests in real estate credit secured by commercial or residential properties in the United Kingdom, France and Germany.
As at April 30 2019, RECI had an investment portfolio of 49 positions, with a value of £312m.
Board – Shane Le Prevost
Investment Banking – Richard Crawley, Richard Bootle, William Hall, Laura Hamilton
General Counsel – Rebecca Gordon
Sales – Andrew Davies, Anastasia Mikhailova, Jack Kershaw
Research – Conor Finn
Corporate and Investor Relations – Natalie Clarke