Hammerson has priced a £400m 12-year bond, paying a coupon of 5.875%. The order book for the deal was more than six times oversubscribed at £2.6bn.
The proceeds will be used in part to refinance Hammerson’s outstanding bonds, for which it launched a tender offer last week and has now reached the maximum acceptance level.
Chief financial officer Himanshu Raja said: “Investors recognise that this is an exciting new era for Hammerson, focused on accelerating growth while maintaining our operational grip and financial discipline.”
Image: Drum, Birmingham © Make Architects/Hammerson
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