20th Mar 2020 14:46
(Alliance News) - Real Estate Credit Investments Ltd on Friday reassured its investors that it is in a strong cash position, despite the recent volatility in financial and credit markets in light of Covid-19.
The stock was 13% higher in London in afternoon trade at 109.50 pence a share.
The company said it is strongly collateralised with an investment portfolio of GBP411 million, plus a cash position of GBP60 million, providing robust asset cover over its liabilities.
In addition, Real Eastate Credit Investments said its liabilities, financing secured by the more liquid end of the bond portfolio, is GBP97 million its investment portfolio is focussed on senior lending, with a weighted average loan-to-value of 65% with a short duration.
"The company's financing has an average maturity of three months, and is spread over many financing counterparties. The Investment Manager has not received any notice from any of its financing counterparties that they intend to withdraw their financing," Real Estate Credit Investments highlighted in its statement Friday.
By Evelina Grecenko; [email protected]
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