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SWEF to raise up to £15m in placing

20 July 2015 07:37

Starwood European Real Estate Finance Limited proposes raising up to £15m before costs through a placing of ordinary shares in the capital of the Company by way of tap issuance.

Highlights:

- Placing to raise up to £15 million before costs;

- Advanced pipeline transaction to be funded with the proceeds of the Placing and the Company's revolving credit facility;

- In the short term the Company continues to target annualised dividend payments of 7.0 pence per Ordinary Share. The market continues to provide considerable lending opportunities but there is also increased lender competition. From 2016 the Company believes it is prudent to set its dividend target 0.5 pence lower at 6.5 pence per Ordinary Share.

Story provided by StockMarketWire.com

Related Company: SWEF

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