REG - Sirius Real Estate - Sirius issues EUR 59.9m of new notes in bond tap

Sirius Real EstateAnnouncement

17/05/2024 07:00

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RNS Number : 8072O  Sirius Real Estate Limited  17 May 2024

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THE UNITED STATES, CANADA OR JAPAN.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED FOR THE PURPOSES OF
ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART
OF THE UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018, AS AMENDED.

 

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

 

17 May 2024

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius", the "Group" or the "Company")

 

Sirius issues €59.9m of new notes in bond tap to its €300 million 1.75%
notes due 2028

 

Sirius Real Estate, the leading owner and operator of branded business and
industrial parks providing conventional space and flexible workspace in
Germany and the U.K., announces that it has issued €59.9 million nominal
value of notes (the "Issuance") to be consolidated and form a single series
with the €300 million 1.75% bonds due November 2028, issued originally on 18
November 2021 (ISIN: XS2412732708) (the "11/2021 Notes"). The new notes (the
"New Notes") were priced in line with current trading levels and represent a
19.9% tap of the 11/2021 Notes. Net LTV will remain within Sirius' guidance of
40% or below.

 

The Issuance was supported by a single existing international institutional
investor and follows strong demand for both Sirius' initial corporate bond
issuance in June 2021, and the 11/2021 Notes.

 

The proceeds of the New Notes will be used towards the Company's significant
pipeline of potential acquisitions in Germany and the U.K., as well as general
corporate purposes.

 

Chris Bowman, Chief Financial Officer of Sirius Real Estate, commented: "This
tap Issuance follows our successful €165 million (£147 million) equity
raise last November and further demonstrates the continued appeal of our
strategy, platform and portfolio to both credit and equity investors. The
Issuance followed an approach from an existing large institutional investor
wishing to support our long term strategy. The proceeds will help us to
continue executing our value-add growth plan whilst remaining within our net
LTV guidance of 40% or below, as we take advantage of the strong demand for
our real estate product."

 

ENDS

 

For further information:

Sirius Real Estate

Andrew Coombs, CEO / Chris Bowman, CFO

+49 (0) 30 285 010 110

 

FTI Consulting (Financial PR)

Richard Sunderland / James McEwan / Talia Shirion / Millie James

+44 (0) 20 3727 1000

SiriusRealEstate@fticonsulting.com

 NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the main and premium market of the
London Stock Exchange and the main board of the JSE Limited. It is a leading
owner and operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the U.K. As of 30
September 2023, the Group's portfolio comprised 139 assets let to 9,248
tenants with a total book value of over €2 billion, generating a total
annualised rent roll of €184.2 million. Sirius also holds a 35% stake in
Titanium, its €350+ million German-focused joint venture with clients of AXA
IM Alts.

 

The Company's strategy centres on acquiring business parks at attractive
yields and integrating them into its network of sites - both under the Sirius
and BizSpace names and alongside a range of branded products. The business
then seeks to reconfigure and upgrade existing and vacant space to appeal to
the local market via intensive asset management and investment and may then
choose to refinance or dispose of assets selectively once they meet maturity,
to release capital for new investment. This active approach allows the Company
to generate attractive returns for shareholders through growing rental income,
improving cost recoveries and capital values, and enhancing returns through
securing efficient financing terms.

 

For more information, please visit: www.sirius-real-estate.com
(http://www.sirius-real-estate.com/)

 

Follow us on LinkedIn at https://www.linkedin.com/company/siriusrealestate/
(https://www.linkedin.com/company/siriusrealestate/)

 

Follow us on X (Twitter) at @SiriusRE

 

JSE Sponsor

PSG Capital

Disclaimer

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States of America.  This announcement is
not an offer of securities for sale into the United States.  The securities
referred to herein have not been and will not be registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold in the
United States, except pursuant to an applicable exemption from registration.
No public offering of securities is being made in the United States.

This publication does not constitute an offer to sell or the solicitation of
an offer to purchase any securities. Neither this publication nor anything
contained herein shall form the basis of, or be relied upon in connection
with, any offer or commitment whatsoever in any jurisdiction.

This publication is only being distributed to, and is only directed at persons
that are, outside the United Kingdom or, if within the United Kingdom, to (i)
persons who have professional experience in matters relating to investments
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Financial Promotion
Order"), or (ii) persons falling within Article 49(2)(a) to (d) ("high net
worth companies, "unincorporated associations", etc.) of the Financial
Promotion Order, or (iii) persons to whom an invitation or inducement to
engage in investment activity (within the meaning of section 21 of the
Financial Services and Markets Act 2000 ("FSMA")) in connection with the issue
or sale of the bonds may otherwise lawfully be communicated or caused to be
communicated (all such persons together being referred to as "relevant
persons"). The bonds are only available to, and any invitation, offer or
agreement to subscribe, purchase or otherwise acquire such bonds will be
engaged in only with, relevant persons. Any person who is not a relevant
person should not act or rely on this announcement or any of its contents. The
bonds are not being offered to the public in the United Kingdom. As a
consequence, no key information document required by Regulation (EU) 1286/2014
as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs
Regulation") for offering or selling the bonds or otherwise making them
available to retail investors in the UK has been prepared and therefore
offering or selling the bonds or otherwise making them available to any retail
investor in the UK may be unlawful under the UK PRIIPs Regulation.

The securities referred to herein are not intended to be offered, sold or
otherwise made available to and should not be offered, sold or otherwise made
available to any retail investor in the European Economic Area (the "EEA").
For these purposes, a retail investor means a person who is one (or more) of:
(i) a retail client as defined in point (11) of Article 4(1) of Directive (EU)
2014/65 (as amended, "MiFID II"); (ii) a customer within the meaning of
Directive (EU) 2016/97 as amended, where that customer would not qualify as a
professional client as defined in point (10) of Article 4(1) of MiFID II or
(iii) not a qualified investor as defined in Regulation (EU) 2017/1129 of the
European Parliament and of the Council of June 14, 2017 (as amended, the
"Prospectus Regulation"). Consequently, no key information document required
by Regulation (EU) 1286/2014 (as amended or superseded, the "PRIIPs
Regulation") for offering or selling the bonds or otherwise making them
available to retail investors in the EEA has been prepared and therefore
offering or selling the bonds or otherwise making them available to any retail
investor in the EEA may be unlawful under the PRIIPs Regulation.

 

 

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