REG - Hammerson PLC - Hammerson Issues £100m Bond Tap

HammersonAnnouncement

31/08/2023 12:30

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RNS Number : 9850K  Hammerson PLC  31 August 2023

Hammerson plc ("Hammerson" or the "Company")

31 August 2023

 

Hammerson issues £100m bond tap of existing £200m bonds maturing 2028

 

Hammerson announces that further to direct demand for Hammerson bonds, it has
priced a £100m increase (or "tap") of its existing £200m 7.25% coupon bonds
maturing in 2028, resulting in an outstanding notional of £300m(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 £350m 3.5% bonds maturing in 2025 and £300m 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
(mailto: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
(mailto:josh.warren@hammerson.com)

 

Hammerson Media Contacts

Natalie Gunson, Group Communications Director, Hammerson

T: +44 (0) 20 7887 4672                     E:
natalie.gunson@hammerson.com (mailto:natalie.gunson@hammerson.com)

 

MHP for Hammerson

Ollie Hoare and Charles Hirst

T: +44 (0)20 3128 8100          E: Hammerson@mhpgroup.com
(mailto: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 £4.7billion (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 (http://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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