REG - Sirius Real Estate - Sirius issues €105 million of notes in bond tap

Sirius Real EstateAnnouncement

15/09/2025 07:00

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RNS Number : 2345Z  Sirius Real Estate Limited  15 September 2025

SIRIUS REAL ESTATE LIMITED

(Incorporated in Guernsey)

Company Number: 46442

JSE Share Code: SRE

LSE (GBP) Share Code: SRE

LEI: 213800NURUF5W8QSK566

ISIN Code: GG00B1W3VF54

15 September 2025

Sirius Real Estate Limited

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

Sirius issues €105 million of new notes in bond tap of existing €359.9
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 €105 million nominal
value of notes (the "Issuance") to be consolidated and form a single series
with its existing €359.9 million 1.75% bonds due November 2028, which were
originally issued on 18 November 2021 (ISIN: XS2412732708) (the "11/2021
Notes"). This is the second tap of the original €300 million 11/2021 Notes,
following a successful €59.9 million raise in May 2024.

The new notes were priced in line with current trading levels of the 11/2021
Notes and the Issuance was executed directly with HSBC Continental Europe, the
sole lead manager.  This follows very strong demand for the Company's €350
million seven-year bond issued in January 2025.  The proceeds of the new
notes will be used toward the Company's pipeline of potential acquisitions in
Germany and the U.K., as well as for general corporate purposes.

Chris Bowman, Chief Financial Officer of Sirius Real Estate, commented: "This
latest bond tap underscores confidence in our strategy, platform and
portfolio. The €105 million proceeds enhance our capacity to pursue
accretive growth, while maintaining disciplined leverage and preserving our
net LTV within our long-standing guidance of below 40%. Having undertaken some
€300 million of acquisitions this year, including the recently announced
£101.1 million acquisition of the Hartlebury Trading Estate which was
transformational for our BizSpace platform in the U.K., we continue to see
attractive opportunities to scale our business in both Germany and the U.K.
This additional funding will help support that growth."

Enquiries:

Sirius Real Estate

Andrew Coombs, CEO / Chris Bowman, CFO

+49 (0)30 285 010 110

 

FTI Consulting (Financial PR & IR)

Richard Sunderland / Giles Barrie / James McEwan / Ellie Sweeney

Tel: +44 (0)20 3727 1000

SiriusRealEstate@fticonsulting.com (mailto:SiriusRealEstate@fticonsulting.com)

 

NOTES TO EDITORS

About Sirius Real Estate

Sirius is a property company listed on the equity shares (commercial
companies) category of the London Stock Exchange and the premium segment of
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 UK. As of 31 March 2025, the Group's
portfolio comprised 145 assets let to 10,477 tenants with a total book value
of over €2.7 billion, generating a total annualised rent roll of €221.4
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/) or on X (Twitter) at
@SiriusRE

JSE Sponsor

PSG Capital

 

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