REG-Starwood European Real Estate Finance Ltd SWEF: January 2023 NAV

Starwood European Real Estate FinanceAnnouncement

17/02/2023 07:15

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   Starwood European Real Estate Finance Ltd (SWEF)
   SWEF: January 2023 NAV

   17-Feb-2023 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information in accordance with the Market Abuse Regulation (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, 31 January 2023

   This announcement contains price sensitive information.

   As at the close  of business on  31 January 2023  the unaudited net  asset
   value (NAV)  of the  Company’s Ordinary  Shares was  104.58p (31  December
   2022: 105.20p).  Please  refer to  the  Reconciliation of  NAV  per  share
   movements below for more information.

   Net Asset Value in total

    

   Loans advanced                                          £426.4m
   Cash and cash equivalents                                 £6.3m
   Financial assets at fair value through profit or loss     £2.1m
   Borrowing facilities (including accrued interest)      (£15.0m)
   Other net assets/(liabilities)                          (£6.1m)
   Net assets                                              £413.7m

    

    

   Capital amounts drawn  as at  31 January  2023 and  amounts committed  but
   undrawn as at 31 January 2023 is shown below.

    

                                  Local Currency Sterling (2)
   Amounts drawn £m (1)                  £269.2m      £269.2m
   Amounts drawn €m (1)                  €172.2m      £151.9m
                                                      £421.1m
   Committed but undrawn Loans £m         £46.2m       £46.2m
   Committed but undrawn Loans €m          €3.0m        £2.7m
                                                       £48.9m

    

   (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  for the month ended 31  January
   2023:

    

    

                                                      January 2023 (pence)
   NAV at the beginning of period                                   105.20
         Operating Income available to distribute (3)                 0.65
         Unrealised FX gains / (losses) (4)                           0.11
         Dividend declared                                          (1.38)
   NAV at the end of the period                                     104.58

    

    

   (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.

   (4) 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.

    

    

    

   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.:   223835
   EQS News ID:    1562111


    
   End of Announcement EQS News Service

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