Hammerson Plc (HMSO.L), a United Kingdom-based real estate investment trust, on Thursday announced the pricing of a 350 million euros bond with a 6.5-year maturity, priced at 110 basis points over euro mid-swaps and carrying an annual coupon of 3.5%.
The issuance was over five times covered at peak.
The company said that the move marks the first stage of early refinancing of the company's 700 million euros 1.75% Sustainability-Linked bonds maturing in June 2027.
The issuance follows Fitch's upgrade of senior unsecured debt to A- and Long-Term Issuer Rating to BBB+, and Moody's revision of the Baa2 rating to Positive Outlook.
Further, the company now expected full-year 2025 earnings to be approximately 101 million pounds.
CEO Rita-Rose Gagné said, "Momentum is continuing into September and October, and we have a strong pipeline ahead."
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