RNS No 9388h
HAMMERSON PLC
16 June 1999
Hammerson Issues Euro 300,000,000 Bonds due 2007
Hammerson plc announces the issue of Euro 300,000,000 Bonds due 2007. The
lead manager and bookrunner to the issue is Dresdner Kleinwort Benson.
Paribas is joint lead manager and Barclays Capital is co-lead manager.
Interest will be payable annually in arrears on 29 June in each year at the
rate of 5 per cent, the first such payment being paid on 29 June 2000. The
Bonds will be redeemed at par on 29 June 2007.
The Bonds were priced to yield a margin of 92 basis points over the gross
redemption yield of the 6 per cent Bund due January 2007.
The Bonds were issued with a fixed re-offer and issue price of 99.228 per
cent.
The proceeds of the issue will be used by Hammerson to refinance existing bank
debt and for general corporate purposes.
Application will be made for the Bonds to be admitted to the Official List of
the London Stock Exchange. It is expected that official dealings will
commence on 30 June 1999. Prior to official listing, dealing will be
permitted by the London Stock Exchange in accordance with its rules.
Simon Melliss, Group Finance Director, said:
'We have taken the opportunity to raise eight year unsecured finance at
what we believe is an attractive rate in a new debt market for Hammerson.
With its substantial property holdings in Europe, this issue enables
Hammerson to expand its investor base to European institutions.'
For further information:
Simon Melliss Tel: 0171 887 1000
Group Finance Director
Hammerson plc
Christopher Smith Tel: 0171 887 1000
Director of Corporate Affairs
Hammerson plc
Bob Curry Tel: 0171 475 6072
Director
Dresdner Kleinwort Benson
END
MSCDLGMVDVFLLMM
MMMM