REG - Land Sec. Group PLC - Landsec announces new Green Bond issuance

Land SecuritiesAnnouncement

17/09/2024 07:00

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RNS Number : 4041E  Land Securities Group PLC  17 September 2024

17 September 2024

 

Land Securities Group PLC

("Landsec")

 

Landsec announces new Green Bond issuance

 

Landsec's wholly-owned subsidiary, Land Securities Capital Markets PLC, has
launched and priced a £350m Green Bond with a maturity of 10.0 years, paying
a coupon of 4.625% and representing a spread of 97 basis points over the
reference gilt rate, subject to final legal documentation.

The new bond further strengthens Landsec's financial position and extends its
weighted-average debt maturity to 9.8 years. The proceeds will be used to
repay part of the drawn element of the Company's revolving credit facility,
resulting in an immediate saving in interest costs.

Vanessa Simms, Chief Financial Officer at Landsec said: "This transaction
further enhances Landsec's strong financial capacity, flexibility and maturity
profile. This is our second bond issuance of the year, and in both cases, the
order books were multiple times over-subscribed with competitive pricing,
demonstrating the strength of demand for our credit. Landsec remains
well-placed to fund its development programme and investment in acquisition
opportunities."

Ends

 

 
About Landsec

 

At Landsec, we build and invest in buildings, spaces and partnerships to
create sustainable places, connect communities and realise potential.  We are
one of the largest real estate companies in Europe, with a portfolio of
retail, leisure, workspace and residential hubs. Landsec is shaping a better
future by leading our industry on environmental and social sustainability
while delivering value for our shareholders, great experiences for our guests
and positive change for our communities.

 

Find out more at landsec.com

 

 Please contact:
 Investors
 Ed Thacker
 +44 (0)7887 825869
 edward.thacker@landsec.com

 

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