Business
Landsec Announces New Bond Issuance
Landsec Announces New Bond Issuance.
About this update from Land Securities Group Plc
[{"type":"text","content":"\n\n12 March 2024\nLand Securities Group PLC\n(\"Landsec\")\n \nLandsec announces new bond issuance\n \nLandsec's wholly-owned subsidiary, Land Securities Capital Markets PLC, has launched and priced a £300m bond with a maturity of 7.5 years, paying a coupon of 4.75% and representing a spread of 103 basis points over the reference gilt rate, subject to final legal documentation.\nThe transaction further strengthens Landsec's financial capacity, flexibility and maturity profile, following the maturity of two bonds in February 2024, totaling £417m.\nVanessa Simms, Chief Financial Officer at Landsec said: \"This transaction further enhances Landsec's strong financial position, extending our weighted average debt maturity to 9.4 years and underpinning our future growth opportunities. The high-quality order book, which was multiple times over-subscribed, and competitive pricing highlight the continued strong investor demand for Landsec credit\".\nEnds\n \n\nPlease contact\n\nTreasury Investors Duncan Holder Edward Thacker\n+44 (0)7912 519813 +44 (0)7887 825869 [email protected] [email protected]\n \n \n \n \n \n\n","length":3476,"tagName":"div"}]