SWEF: April 2022 NAV (1357153)
20 Mayo 2022 - 01:00AM
UK Regulatory
Starwood European Real Estate Finance Ltd (SWEF) SWEF: April
2022 NAV 20-May-2022 / 07:00 GMT/BST Dissemination of a Regulatory
Announcement that contains inside information according to
REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The
issuer is solely responsible for the content of this
announcement.
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Starwood European Real Estate Finance Limited (the "Company")
(Ticker: "SWEF")
Net Asset Value, 30 April 2022
This announcement contains price sensitive information.
As at the close of business on 30 April 2022 the unaudited net
asset value (NAV) of the Company's Ordinary Shares was 102.33p (31
March 2022: 103.13p). The 30 April NAV is stated after the dividend
declared (of 1.375 p per share) by the Board on 22 April 2022. The
ex-dividend date is 5 May 2022 and the payment date is 27 May 2022.
Please refer to the Reconciliation of NAV per share movements below
for more information.
Net Asset Value in total
Loans advanced GBP412.6m
Financial assets at fair value through profit or loss GBP10.4m
Cash and cash equivalents GBP9.6m
Borrowing facilities (including accrued interest) (GBP8.5m)
Dividend declared but not yet paid (GBP5.6m)
Other net assets/(liabilities) (GBP0.1m)
Net assets GBP418.4m
Capital amounts drawn as at 30 April 2022 and amounts committed
but undrawn as at 30 April 2022 is shown below.
Local Currency Sterling (2)
Amounts drawn GBPm (1) GBP233.5m GBP233.5m
Amounts drawn EURm (1) EUR210.2m GBP176.3m
GBP409.8m
Committed but undrawn Loans GBPm GBP32.3m GBP32.3m
Committed but undrawn Loans EURm EUR7.9m GBP6.6m
GBP38.9m
(1) The balances shown corresponds to cash advanced.
(2) Euro amounts drawn and commitments converted at the month
end spot rate.
The difference between amounts drawn in the table above and
"Loans advanced" in the first table is accrued income.
Reconciliation of NAV per share movements (calendar year to
date):
January 2022 February 2022 March April 2022
2022
NAV at the beginning of period 103.09 102.02 102.77 103.13
Operating Income available to distribute (3) 0.46 0.44 0.46 0.48
Realised FX gains / losses not distributable (4) 0.00 0.00 0.78 0.00
Unrealised FX gains / losses (5) (0.15) 0.31 (0.88) 0.10
Dividends declared (6) (1.38) 0.00 (0.00) (1.38)
NAV at the end of the period 102.02 102.77 103.13 102.33
(3) Operating Income available to distribute comprises loan
income recognised in the period less the cost of debt facilities
utilised by the Group and operating costs incurred. The Operating
Income available to distribute also includes any realised foreign
exchange gains or losses upon settlement of hedges, except those
described in note 4.
(4) On occasion, the Group may realise a gain or loss on the
roll forward of a hedge if it becomes necessary to extend a capital
hedge beyond the initial anticipated loan term. If this situation
arises the Group will separate the realised FX gain or loss from
other realised FX gains or losses and not consider it available to
distribute (or as a reduction in distributable profits). The FX
gain or loss will only be considered part of distributable reserves
when the rolled hedge matures or is settled and the final net gain
or loss on the capital hedges can be determined.
(5) Unrealised foreign exchange gain/losses relate to the net
impact of changes in the valuation of foreign exchange hedges and
the sterling equivalent value of Euro loan investments (using the
applicable month end rate). Mis-matches between the hedge
valuations and the loan investments may occur depending on the
shape of the forward FX curve and this causes some movement in the
NAV. These unrealised FX gains / losses are not considered part of
distributable reserves.
(6) Dividend declared is the dividend declared by the Board
during the period.
All figures herein are published based on current information,
estimates and judgements. Enquiries:
Apex Fund and Corporate Services (Guernsey) Limited as Company
Secretary
Duke Le Prevost
T: +44 203 5303 630
E: starwood@apexfs.com
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ISIN: GG00B79WC100
Category Code: NAV
TIDM: SWEF
LEI Code: 5493004YMVUQ9Z7JGZ50
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 162963
EQS News ID: 1357153
End of Announcement EQS News Service
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