Hammerson has announced the pricing of a €350m bond. The bond has a maturity of five years at 110 basis points over euro mid-swaps with an annual coupon of 3.875%. The issuance was more than five times covered at peak.
The new bonds represent the next stage of the refinancing of the group’s €700m 1.75% sustainability-linked bonds, which mature in June 2027. Following the issuance of the new bond, the weighted average maturity of the group’s debt stands at 4.7 years.
In April this year, Hammerson refinanced its £463m revolving credit facility with its existing lenders on terms unchanged from those previously in place. The facility is committed and undrawn, has an initial maturity date of April 2029 and includes two one-year extension options.
