Sirius secures €150m Revolving Credit Facility

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

24 June 2025

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius", the "Company" or the "Group")

Sirius secures €150 million Revolving Credit Facility from three bank consortium

- RCF provides additional resources for acquisitions and allows for efficient cash management through bond refinancings -

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK, has secured a new €150 million unsecured revolving credit facility ("RCF" or the "Facility"), with an initial three-year term. The RCF has two one-year extension options and incorporates accordions allowing it to be upsized by up to an additional €100 million, all of which are at the Company's request and require bank consent.

The Facility carries a margin of 120bps over short term EURIBOR, which is currently approximately 2% (leading to an interest cost of 3.2% if it were drawn down at existing rates), with covenants aligned where possible to the Group's most recent bond issue in January 2025.

The RCF further diversifies Sirius' debt, adding BNP Paribas as lenders for the first time, as well as ABN AMRO for the first time in over a decade, with HSBC completing the consortium. Panmure Liberum acted as debt advisor to the Company.

The Facility significantly enhances Sirius' financial flexibility, allowing the Company to continue to take advantage of current market conditions and its strong acquisition pipeline in Germany and the UK, as well as managing cash balances efficiently as it passes through bond re-financing windows.

The Company also continues to investigate the lower cost funding in the German financing market available to it from local banking partners in conjunction with asset acquisitions and will take advantage of opportunities to secure such funding where appropriate.

Chris Bowman, CFO, commented, "Along with our recent equity fundraise and bond issuance, this Facility provides us with further flexibility to capitalise on our exciting pipeline of opportunities in Germany and the UK. It also further diversifies our debt by adding BNP Paribas and ABN AMRO to our current pool of relationship banks, and extends our relationship with HSBC, a bookrunner on all our bond issues to date. Furthermore, this new Facility demonstrates the strong support we continue to receive from existing and new financing partners."

ENDS

For further information:

Sirius Real Estate

Chris Bowman, CFO

+44 (0) 20 3059 0855

FTI Consulting

Richard Sunderland / Giles Barrie / James McEwan / Elie Smith

+44 (0) 20 3727 1000

[email protected] 

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the equity shares (commercial companies) category of the London Stock Exchange and the premium segment of the main board of the JSE Limited. It is a leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the UK. As of 31 March 2025, the Group's portfolio comprised 145 assets let to 10,477 tenants with a total book value of over €2.5 billion, generating a total annualised rent roll of €221.4 million. Sirius also holds a 35% stake in Titanium, its €350+ million German-focused joint venture with clients of AXA IM Alts.

The Company's strategy centres on acquiring business parks at attractive yields and integrating them into its network of sites - both under the Sirius and BizSpace names and alongside a range of branded products. The business then seeks to reconfigure and upgrade existing and vacant space to appeal to the local market via intensive asset management and investment and may then choose to refinance or dispose of assets selectively once they meet maturity, to release capital for new investment. This active approach allows the Company to generate attractive returns for shareholders through growing rental income, improving cost recoveries and capital values, and enhancing returns through securing efficient financing terms.

For more information, please visit: www.sirius-real-estate.com

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