LondonMetric Property plc (LMP.L) announced the successful pricing of its 500 million pounds debut sterling-denominated senior unsecured green bond issuance under its 3 billion pounds EMTN programme.
The offering, split into two 250 million pounds tranches, carries a weighted average coupon of 4.69 percent and a weighted average maturity of 5.5 years.
The structure includes 250 million pounds with a 4-year maturity and a 4.50 percent coupon priced at an 82 bps spread, and 250 million pounds with a 7-year maturity and a 4.875 percent coupon priced at a 92 bps spread.
Institutional demand was strong, with orders peaking at 3.2x oversubscription. The bonds are expected to be issued on 10 December 2025, listed on the London Stock Exchange's International Securities Market, and rated A- by Fitch issuer rating: BBB+.
Finance Director Martin McGann said the heavily subscribed debut reflects LondonMetric's increased scale and high-quality, income-focused portfolio. He added that the issuance broadens funding sources at attractive rates and extends the company's debt maturity profile.
LMP.L currently trades at 190.4 pence or 1.01% higher on the LSE.
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