13th Jan 2006 09:53
Hammerson PLC13 January 2006 Hammerson Issues £300,000,000 Unsecured Bonds due 2016 Hammerson plc announces the issue of £300,000,000 unsecured Bonds due 2016. HSBCand the Royal Bank of Scotland are the joint lead managers and bookrunners tothe issue. Interest will be payable annually in arrears on 15 December in each year at therate of 5.25 per cent and the first such payment is due on 15 December 2006. TheBonds will be redeemed at par on 15 December 2016, unless redeemed in accordancewith their terms. The Bonds were issued with a fixed re-offer and issue price of 99.333 per centand priced to yield a margin of 118 basis points over the gross redemption yieldof 4.75 per cent Treasury stock due 2015. Hammerson will use the proceeds of the issue for general corporate purposes,including the funding of 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 2February 2006. John Richards, Chief Executive of Hammerson plc, said: " I am very pleased with the support for this issue, which underlines theconfidence investors have in Hammerson's business. Hammerson has what I believeto be the best development pipeline of any of Europe's major real estatecompanies. The issue provides funding for part of this programme and furtherstrengthens the group's capital structure." For further information: John Richards Tel: 020 7887 1000 Chief Executive Chris Smith Tel: 020 7887 1019 Corporate Affairs Director [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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