Hammerson Posts Stronger Summer Performance, Issues $407 Million Bond
By Najat Kantouar
Hammerson reported a stronger performance across its regions, driven by continued momentum in June through August, and issued a new 350 million-euro ($407.1 million) bond.
The shopping-center operator said Thursday that U.K. footfall rose 6% on year, representing an additional 1.3 million customer visits during the summer period. Meanwhile, visits to its French destinations increased 5% on year, while footfall at its Dundrum retail and leisure center in Ireland rose 3%.
Footfall growth drove strong on-year sales in the summer period, with like-for-like sales growth of 4% in the U.K., and group growth of 2.4%
The London-listed company said leasing demand for prime space remained strong, with 71 long-term deals exchanged over the same period, representing 10 million pounds ($13.4 million) of annual headline rent.
"Demand for our prime space is robust, as evidenced by the operational performance we drove over the summer. Momentum is continuing into September and October and we have a strong pipeline ahead," Chief Executive Officer Rita-Rose Gagne said.
On the back of this momentum, the company issued the new bonds with a maturity of six and a half years, priced at 110 basis points over euro midswaps, with an annual coupon of 3.5%.
Write to Najat Kantouar at najat.kantouar@wsj.com
(END) Dow Jones Newswires
October 09, 2025 03:15 ET (07:15 GMT)
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