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The information contained herein and on the pages that follow may contain forward-looking statements. Any statement other than a statement of historical fact is a forward-looking statement. Actual results may differ materially from those expressed or implied by any forward-looking statement. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on any forward-looking statement, which speaks only as of the date of its issuance.
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1.2. The “Company” means Real Estate Credit Investments Limited and any of its subsidiaries and related companies and references to the “Company’s website” are to any of the Company’s websites and also include, but are not limited to, the text, images, links, sounds, graphics and video sequences displayed in such websites (the “Materials”).
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From RECI’s 20 March market update and its end-February Factsheet, we note the following: i) the 53-position investment portfolio is focused on senior lending, with a weighted average loan-to-value of 65% and a short duration (1.3 years); ii) cash of £60m, 16% NAV, nearly covers total debt financing £97m.; iii) higher-risk (Italian and hotel) exposures have been reducing; and iv) a wide diversification by geography and sector. We expect the book to be managed in conjunction with borrowers and over the long term. Even if security is enforced, RECI’s permanent capital structure means it can take time to sell assets and is not forced into disposal at sub-optimal prices.
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