TIDMHMSO
RNS Number : 9850K
Hammerson PLC
31 August 2023
Hammerson plc ("Hammerson" or the "Company")
31 August 2023
Hammerson issues GBP100m bond tap of existing GBP200m bonds
maturing 2028
Hammerson announces that further to direct demand for Hammerson
bonds, it has priced a GBP100m increase (or "tap") of its existing
GBP200m 7.25% coupon bonds maturing in 2028, resulting in an
outstanding notional of GBP300m(1) . The new bonds will have the
same terms and conditions as the existing bonds. The new bonds will
be placed with an existing large institutional investor.
Hammerson will use the proceeds for general corporate purposes
including a tender offer for its GBP350m 3.5% bonds maturing in
2025 and GBP300m 6.0% bonds maturing in 2026 that has been
announced earlier today.
The prospectus for the new bonds, when published, will be
available on Hammerson's website
(www.hammerson.com/investors/shareholder-information/debt-investors)
and a copy will be submitted to the National Storage Mechanism and
available to the public for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanismon.
Notes:
1. Subject to the signing of the subscription agreement
IMPORTANT DISCLAIMER: This announcement does not constitute an
offer of any securities for sale (including, without limitation,
the new bonds). The offer and sale of the new bonds may be
restricted by law in certain jurisdictions. This announcement is
not for release, publication or distribution in whole or in part,
in, into or from any jurisdiction where to do so would constitute a
violation of the relevant laws of such jurisdiction.
The new bonds are not being, and will not be, offered or sold in
the United States of America (including its territories and
possessions, any state of the United States of America and the
District of Columbia) (the "United States"). Nothing in this
document constitutes an offer to sell or the solicitation of an
offer to buy the new bonds in the United States or any other
jurisdiction. Securities may not be offered, sold or delivered in
the United States absent registration under, or an exemption from
the registration requirements of, the Securities Act. The new bonds
have not been, and will not be, registered under the Securities Act
or the securities laws of any state or other jurisdiction of the
United States and may not be offered, sold or delivered, directly
or indirectly, within the United States or to, or for the account
or benefit of, U.S. persons.
Compliance information for the new bonds: No EU PRIIPs KID -
eligible counterparties and professional clients only (all
distribution channels). No sales to EEA retail investors; no key
information document in respect of the EEA has been or will be
prepared. UK MiFIR professionals/ECPs only/No UK PRIIPs KID -
eligible counterparties and professional clients only (all
distribution channels). No sales to UK retail investors; no key
information document in respect of the UK has been or will be
prepared.
No action has been taken or will be taken in any jurisdiction in
relation to the new bonds to permit a public offering of
securities.
ENDS
Enquiries
Richard Sharp, Director of Treasury, Tax and Insurance
Tel: + 44 (0) 207 887 1119 E: richard.sharp@hammerson.com
Hammerson Investor Contacts
Josh Warren, Director of Strategy, Commercial Finance and
Investor Relations
T: +44 (0) 20 7887 1053 E: josh.warren@hammerson.com
Hammerson Media Contacts
Natalie Gunson, Group Communications Director, Hammerson
T: +44 (0) 20 7887 4672 E : natalie.gunson@hammerson.com
MHP for Hammerson
Ollie Hoare and Charles Hirst
T: +44 (0)20 3128 8100 E: Hammerson@mhpgroup.com
Notes to editors
Hammerson has ratings of BBB (issuer default rating) from Fitch
Ratings Limited ("Fitch") and Baa3 (long term debt) from Moody's
Investors Services Limited ("Moody's"). The new bonds are expected
to be assigned a BBB+ rating by Fitch and a Baa3 rating by Moody's.
Morgan Stanley are acting as Sole Lead Manager on the issuance of
the new bonds. Lloyds Bank Corporate Markets and Mizuho are acting
as dealer managers on the tender offer referred to herein.
About Hammerson
Hammerson is a cities business. An owner, operator and developer
of prime urban real estate, with a portfolio value of GBP4.7billion
(as at 30 June 2023), in some of the fastest growing cities in the
UK, Ireland and France.
Our portfolio and adjacent lands leverage our experience and
capabilities to create and manage exceptional city centre
destinations with the opportunity to drive value and reshape entire
neighbourhoods.
Our assets are high profile and play an important role in our
communities, welcoming more than 215 million visitors each year and
supporting 20,000+ jobs though our retail, dining and social
occupiers.
These destinations include Bullring in Birmingham, The Oracle in
Reading, Dundrum Estate, Dublin and Terraces du Port in Marseille.
We also hold investments in Value Retail, best-in-class villages
such as Bicester Village, Oxfordshire.
Hammerson also holds 100 acres of attractive pre-development and
strategic land. This includes complementary adjacent land, creating
optionality to enhance both the scale and diversity of the existing
estate, and stand-alone land opportunities. These include Martineau
Galleries in Birmingham and Bishopsgate Goodsyard, Shoreditch.
www.hammerson.com
This announcement has also been released on the SENS system of
the Johannesburg Stock Exchange and on Euronext Dublin.
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END
IODFLFILTEILVIV
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