DJ SWEF: February 2024 NAV
Starwood European Real Estate Finance Ltd (SWEF) SWEF: February 2024 NAV 18-March-2024 / 07:00 GMT/BST =---------------------------------------------------------------------------------------------------------------------- Starwood European Real Estate Finance Limited (the "Company") (Ticker: "SWEF") Net Asset Value, 29 February 2024 This announcement contains price sensitive information. As at the close of business on 29 February 2024 the unaudited net asset value (NAV) of the Company's Ordinary Shares was 103.69p (31 January 2024: 103.08p). Please refer to the Reconciliation of NAV per share movements below for more information. Net Asset Value in total: Loans advanced GBP258.4m Cash and cash equivalents GBP45.1m Financial assets at fair value through profit or loss GBP1.9m Other net assets/(liabilities) (GBP0.3m) Net assets GBP305.1m
The Cash and cash equivalents balance in the table above includes a cash reserve to cover undrawn loan commitments in the portfolio, totaling GBP32.9 million, as set out in the table below.
Capital amounts drawn as at 29 February 2024 and amounts committed but undrawn as at 29 February 2024 is shown below.
Local Currency Sterling (2)
Amounts drawn GBPm (1) GBP174.3m GBP174.3m
Amounts drawn EURm (1) EUR99.0m GBP84.7m
GBP259.0m
Committed but undrawn cash amounts GBPm (3) GBP32.9m GBP32.9m
Committed but undrawn cash amounts EURm (3) EUR0.0m GBP0.0m
GBP32.9m
(1) The balances shown corresponds to cash advanced.
(2) Euro amounts drawn and future cash commitments converted at the month end spot rate.
(3) These amounts exclude interest to be capitalized.
The difference between amounts drawn in the table above and "Loans advanced" in the first table is accrued income and impairment provisions.
Reconciliation of NAV per share movements for the month ended 29 February 2024:
February 2024 (pence) NAV at the beginning of period 103.08 Operating Income available to distribute (4) 0.69 Unrealised FX gains / (losses) (5) (0.08) NAV at the end of the period 103.69
(4) 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. It includes realised foreign exchange gains and losses that are available to distribute.
(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). Mismatches 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.
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@apexgroup.com
Jefferies International Limited
Gaudi Le Roux
Harry Randall
Ollie Nott
T: +44 020 7029 8000
Notes:
Starwood European Real Estate Finance Limited is an investment company listed on the main market of the London Stock Exchange with an investment objective to conduct an orderly realisation of the assets of the Company. www.starwoodeuropeanfinance.com.
The Group's assets are managed by Starwood European Finance Partners Limited, an indirect wholly-owned subsidiary of the Starwood Capital Group.
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ISIN: GG00BP6VJD72 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.: 310110 EQS News ID: 1860357 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
March 18, 2024 03:00 ET (07:00 GMT)
