12th Jun 2006 10:57
Hammerson PLC12 June 2006 Hammerson Issues Euro 700,000,000 Unsecured Bonds Due 2015 Hammerson plc announces the issue of Euro 700,000,000 unsecured Bonds due 2015.Barclays Capital, Dresdner Kleinwort Wasserstein and JP Morgan Cazenove are thejoint lead managers and bookrunners to the issue. Interest will be payable annually in arrears on 19 June in each year at the rateof 4.875 per cent and the first such payment is due on 19 June 2007. The Bondswill be redeemed at par on 19 June 2015, unless redeemed in accordance withtheir terms. The Bonds were issued with a fixed re-offer and issue price of 99.879 per centand priced to yield a margin of 80 basis points over the nine year Euro midinterest rate swap. Hammerson will use the proceeds of the issue for general corporate purposes,including the funding of current development projects. Application will be made to the Financial Services Authority for the Bonds to beadmitted to the Official List of the UK Listing Authority, and to the LondonStock Exchange plc for the Bonds to be admitted to trading. It is expected thatofficial dealings in the Bonds will commence on the London Stock Exchange on 19June 2006. Simon Melliss, Group Finance Director of Hammerson plc, said: "I am very pleased with this issue, which attracted support from a wide range ofEuropean investors. This transaction once again underlines the confidenceinvestors have in Hammerson's business. The issue provides funding for ourFrench operations and further strengthens the group's capital structure." For further information: Simon Melliss Tel: 020 7887 1000Group Finance Director Chris Smith Tel: 020 7887 1019Corporate Affairs Director [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Hammerson