Hammerson announces the successful completion of a €700m Sustainability Linked Bond with a 6 year maturity period and a 1.75% coupon.
The new issuance was combined with tender offers announced on 20 May 2021 in respect of the €500m 2% bonds due 2022 and the €500m 1.75% bonds due 2023. The proceeds from the issuance of the new bonds will be used to repay existing financial indebtedness and the combined transactions are intended to have a broadly neutral impact on Hammerson’s net debt.
Himanshu Raja, CFO of Hammerson, said: “Together with our recent announcement of the disposal of the retail parks portfolio, this is another important step in strengthening the Group’s capital structure. The linking of the bond to our sustainability targets brings a stronger alignment between our financial and sustainability goals and we are pleased to have received a positive response to our bond, which was 2x covered.”
This announcement has also been released on the SENS system of the Johannesburg Stock Exchange and on Euronext Dublin.