17th May 2024 09:17
(Alliance News) - Sirius Real Estate Ltd on Friday issued new notes to aid its growth plan.
The Berlin-based owner and operator of business and industrial parks announced that it has issued EUR59.9 million of notes to be consolidated and form a single series with the EUR300 million 1.75% bonds issued in November 2021 and due November 2028.
These new notes have been priced in line with current trading values and represent a 19.9% tap of the previously issued notes.
Chief Financial Officer Chris Bowman said: "This tap issuance follows our successful EUR165 million (GBP147 million) equity raise last November and further demonstrates the continued appeal of our strategy, platform and portfolio to both credit and equity investors.
"The proceeds will help us to continue executing our value-add growth plan whilst remaining within our net loan to value guidance of 40% or below, as we take advantage of the strong demand for our real estate product."
Sirius Real Estate shares were down 0.2% to 91.10 pence each in London on Friday morning, and down 0.4% to ZAC2,257.00 in Johannesburg.
By Elijah Dale, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.
Related Shares:
Sirius Real Estate