IN BRIEF: Hammerson prices seven-year GBP250 million bonds
Hammerson PLC - London-based real estate investment trust focused on city-centre shopping centres - Prices a GBP250 million bond at 107 basis points over the 4.125% UK Treasury Gilt 2033. The new bond is due June 2033 and has an annual coupon of 5.875%. Says the issuance is more than four times covered, with a peak order book in excess of GBP1.1 billion. Also Hammerson enters into interest rate swaps to convert the 5.875% fixed coupon into a floating rate of Sonia plus a margin of 131 basis points, resulting in a net initial rate of 5.04%. The new bond increases the its cash holdings to GBP500 million as at June 30. The group maintains its 2026 financial year EPRA earnings guidance of GBP132 million.
Current stock price in London: 370.00 pence, down 0.6% on Wednesday
12-month change: up 37%
Current stock price in Johannesburg: ZAR78.42, down 3.0%
12-month change: up 20%
By Artwell Dlamini, Alliance News senior reporter South Africa
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