Hammerson is tapping £100m of existing bonds maturing in 2028, while launching tender offers for bonds due in 2025 and 2026.
The REIT has priced a £100m increase, or “tap”, of its existing £200m 7.25% coupon bonds due in 2028, resulting in an outstanding notional value of £300m.
The new bonds will have the same terms and conditions as the existing bonds, and will be placed with an “existing large institutional investor”.
Hammerson said it will use the proceeds for general corporate purposes, including tender offers for its £350m 3.5% bonds maturing in 2025, and £300m 6% bonds maturing in 2026.
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