Starwood European Real Estate Finan Quarterly Factsheet Publication (6135L)
29 Avril 2015 - 8:04AM
UK Regulatory
TIDMSWEF
RNS Number : 6135L
Starwood European Real Estate Finan
29 April 2015
29 April 2015
Starwood European Real Estate Finance Limited: Quarterly
Factsheet Publication
Starwood European Real Estate Finance Limited (the "Company")
announces that the factsheet for the first quarter ended on 31
March 2015 is available at:
www.starwoodeuropeanfinance.com
Extracted text of the commentary is set out below:
"The Company declared total dividends of 5.8 pence per Ordinary
Share in relation to 2014. The dividend declared on 27 January 2015
in relation to the final quarter of 2014 was 1.7 pence per Ordinary
Share (annualised 6.8 pence).
On 27 April 2015 the directors declared a dividend of 1.75 pence
per Ordinary Share (annualised 7.0 pence per Ordinary Share) in
relation to the first quarter of 2015.
On the basis of the current portfolio, we would expect to be
able to continue to pay dividends at broadly this level (depending
on LIBOR movements and pace of unscheduled amortisation and the
pace of drawdown of unfunded commitments). However, it is important
to recognise that some of the loans originated early in the life of
the Company may repay over the coming year and as such the level of
future dividend will depend upon the level of returns achieved on
re-investment of the proceeds and the pace of such
re-investment.
The investment environment for the Company has changed somewhat
over the last two years and the Company has to date sourced
attractive business consistent with risk/return metrics set out at
IPO. Going forward, should any material repayments be received, the
Company has already stated that it will look to take account of
shareholders' current views on the relative balance between risk,
returns and scalability and this may lead to a reduction in the
target returns on new investments.
The directors place primary importance now on ensuring, as much
as possible, that cash drag from any repayments does not materially
impact the consistency of future dividends and it is intended that
the liquidity facility will assist with this."
For further information, please contact:
Gary Gould / Stuart Klein
Jefferies International Limited
T: +44 20 7029 8000
Ravi Anand / Robert Peel
Dexion Capital plc
T: +44 20 7832 0900
Ipes (Guernsey) Limited
Gillian Newton
T: +44 1481 735869
Notes:
Starwood European Real Estate Finance is an investment company
listed on the main market of the London Stock Exchange with an
investment objective to provide Shareholders with regular dividends
and an attractive total return while limiting downside risk,
through the origination, execution, acquisition and servicing of a
diversified portfolio of real estate debt investments in the UK and
Continental European markets. www.starwoodeuropeanfinance.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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