9th Oct 2025 08:12
(Alliance News) - Hammerson PLC on Thursday lauded "high levels of demand" for its new green bonds, but the issuance has resulted in a slight downward revision of annual earnings guidance.
The London-based real estate investment trust priced EUR350 million in bonds with a maturity of 6.5 years. They were priced at 110 basis points over euro mid-swaps with an annual coupon of 3.5%.
It said the issuance was over five times covered at peak, with the new bonds representing the first stage of the early refinancing of its EUR700 million 1.75% sustainability-linked bonds maturing in June 2027.
As a result of the earlier issuance of the EUR350 million in new bonds, Hammerson now expects annual earnings for 2025 to be around GBP101 million, down slightly from GBP102 million predicted late in July.
Hammerson said strong support from the debt investors reflected its operational performance, with momentum continuing throughout the key summer months - from June to August - across all geographies.
"UK footfall increased 6% year-on-year, representing an extra 1.3 million customer visits during the summer period, while our two French destinations were up 5% year-on-year, and Dundrum was up 3% - all ahead of national benchmarks," the company said.
"We are delighted with the high levels of demand for our bond issue, a testament to the strength and success of our strategic delivery," Chief Executive Officer Rita-Rose Gagne said.
Demand for Hammerson's prime space is robust, and momentum is continuing into September and October, Gagne said, adding that the company has a strong pipeline ahead.
Hammerson shares were up 0.6% to 287.00 pence early Thursday in London.
By Artwell Dlamini, Alliance News senior reporter South Africa
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Hammerson