3rd Oct 2024 10:21
Hammerson PLC - London-based real estate investment trust owns city-centre shopping centres in the UK and elsewhere - Prices a GBP400 million bond, with a maturity of 12 years, paying a coupon of 5.875T. New bonds will be issued on Tuesday next week. Says the proceeds of the new bonds will be used to support its growth strategy and refinance its outstanding bonds.
On Friday last week, Hammerson offered to buy back three separate bonds. These included GBP300.0 million 6.00% note due 2026, GBP300.0 million 7.25% issue due 2028, and GBP350.0 million 3.500% bond due 2025. "We are delighted with the strong demand for our 12-year GBP400 million bond which was 7x oversubscribed at the peak," Chief Financial Officer Himanshu Raja says. At its peak, the order book was in excess of GBP2.6 billion.
Current stock price in London: 30.91 pence, down slightly on Thursday morning
12-month change: up 22%
Current stock price in Johannesburg: ZAR70.45, down 4.8%
12-month change: up 23%
By Artwell Dlamini, Alliance News reporter
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