UK REIT Hammerson has raised €500 mln with an eight year bond issue.
UK REIT Hammerson has raised €500 mln with an eight year bond issue.
The bonds carry a 2% coupon and the issue was five times oversubscribed.
The issue is part of Hammerson's effort to lower its average cost of debt.
'Market conditions for new debt offerings are favourable at present,' said Timon Drakesmith, Hammerson's CFO. 'We believe the 2% per annum coupon is the lowest ever for a fixed rate public bond issue from a UK property company.'
Deutsche Bank, The Royal Bank of Scotland, BNP Paribas, Lloyds Bank, Mitsubishi UFJ Securities and Santander GBM acted as joint bookrunners.