Business
Issue of inaugural Corporate Bonds raising EUR350m
Issue of inaugural Corporate Bonds raising EUR350m.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0161C\n Sirius Real Estate Limited\n 16 June 2021\n \n \n \n \n NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL\n \n \n SIRIUS REAL ESTATE LIMITED\n (Incorporated in Guernsey)\n Company Number: 46442\n JSE Share Code: SRE\n LSE (EUR) Share Code: ESRE\n LSE (GBP) Share Code: SRE\n \n LEI: 213800NURUF5W8QSK566\n \n ISIN Code: ISIN GG00B1W3VF54\n \n 16 June 2021\n Sirius Real Estate Limited\n (\"Sirius\" or the \"Company\")\n Sirius Real Estate issues inaugural Corporate Bonds raising EUR350 million\n \n Sirius Real Estate, the leading operator of branded business and industrial parks providing conventional space and flexible workspace in Germany, is pleased to announce that it has successfully placed its inaugural corporate bonds on the following terms:\n \n · Issue of EUR 350 million bond\n \n · Senior bond expected to be rated BBB by Fitch with coupon of 1.125% issued\n \n · Five year term with maturity in 2026\n \n ·Net proceeds to be used to refinance certain existing debt and for general corporate purposes (including the financing of future acquisitions)\n Sirius has completed the successful issuance of corporate bonds raising a total of EUR 350 million. The order book for the bonds was significantly oversubscribed, reflecting the strong endorsement by the capital markets for the Company and its business model. The resulting annual interest rate for the bonds is 1.125 per cent.\n The Company will use part of the proceeds to refinance certain existing secured debt facilities, with the remainder to be deployed towards the significant pipeline of potential acquisitions, as well as general corporate purposes.\n The bonds are governed by German law and will be listed on the Euro MTF Market of the Luxembourg Stock Exchange.\n \n Alistair Marks, Chief Financial Officer of Sirius, commented: \"The successful issue of our first corporate bonds, which was heavily oversubscribed, is proof of the attractiveness and sustainability of our business model. We were particularly pleased to be able to successfully place the bonds with important institutional investors and establish new capital and funding sources on very attractive ter...