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IN BRIEF: Land Securities prices GBP300 million bond at 4.75% coupon

12th Mar 2024 09:04

Land Securities Group PLC - London-based commercial property developer and investor - Landsec subsidiary Land Securities Capital Markets PLC prices GBP300 million in 7.5 year bonds with a 4.75% coupon, which it notes is a 103 basis point spread over its reference gilt rate. Says the bond offer is "multiple times over-subscribed", showing strong investor demand for Landsec credit. The bond replaces two that matured last month. Average debt maturity now is 9.4 years, the company says.

Current stock price: 626.80 pence

12-month change: up 1.5%

By Tom Waite, Alliance News editor

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