Land Securities Group PLC Landsec Announces New Bond Issuance
12 March 2024 - 6:00PM
RNS Regulatory News
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
edward.thacker@landsec.com
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