9th Oct 2024 12:53
Hammerson PLC - London-based real estate investment trust owns city-centre shopping centres in the UK and elsewhere - Completes refinancing transactions that saw it issue new bonds and repurchase existing ones. It issues 12-year bonds at a coupon of 5.875%, raising GBP400 million. Uses the proceeds to buy back bonds for GBP411.6 million, comprising GBP168.4 million of 6% 2026 notes and GBP243.2 million of 7.25% 2028 issues. Says this reduces weighted average gross interest to 3.6% from 3.8% and extends its weighted average debt maturity to 5.2 years from 2.9 years.
Current stock price in London: 314.00 pence, up 1.8% on Wednesday afternoon
12-month change: up 28%
Current stock price in Johannesburg: ZAR72.36, up 1.9%
12-month change: up 27%
By Artwell Dlamini, Alliance News reporter
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