REG - Land Sec. Group PLC - Landsec Announces New Bond Issuance

Land SecuritiesAnnouncement

12/03/2024 07:00

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RNS Number : 4163G  Land Securities Group PLC  12 March 2024

12 March 2024

Land Securities Group PLC

("Landsec")

 

Landsec announces new bond issuance

 

Landsec's wholly-owned subsidiary, Land Securities Capital Markets PLC, has
launched and priced a £300m bond with a maturity of 7.5 years, paying a
coupon of 4.75% and representing a spread of 103 basis points over the
reference gilt rate, subject to final legal documentation.

The transaction further strengthens Landsec's financial capacity, flexibility
and maturity profile, following the maturity of two bonds in February 2024,
totaling £417m.

Vanessa Simms, Chief Financial Officer at Landsec said: "This transaction
further enhances Landsec's strong financial position, extending our weighted
average debt maturity to 9.4 years and underpinning our future growth
opportunities. The high-quality order book, which was multiple times
over-subscribed, and competitive pricing highlight the continued strong
investor demand for Landsec credit".

Ends

 

Please contact

Treasury
Investors
Duncan
Holder
Edward Thacker

+44 (0)7912 519813
+44 (0)7887 825869
duncan.holder@landsec.com (mailto:sara.doggett@landsec.com)
                 edward.thacker@landsec.com
(mailto:edward.thacker@landsec.com)

 

 

 

 

 

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