TIDMSRE
RNS Number : 0161C
Sirius Real Estate Limited
16 June 2021
NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA OR JAPAN OR
IN ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (EUR) Share Code: ESRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: ISIN GG00B1W3VF54
16 June 2021
Sirius Real Estate Limited
("Sirius" or the "Company")
Sirius Real Estate issues inaugural Corporate Bonds raising
EUR350 million
Sirius Real Estate, the leading operator of branded business and
industrial parks providing conventional space and flexible
workspace in Germany, is pleased to announce that it has
successfully placed its inaugural corporate bonds on the following
terms:
-- Issue of EUR 350 million bond
-- Senior bond expected to be rated BBB by Fitch with coupon of 1.125% issued
-- Five year term with maturity in 2026
-- Net proceeds to be used to refinance certain existing debt
and for general corporate purposes (including the financing of
future acquisitions)
Sirius has completed the successful issuance of corporate bonds
raising a total of EUR 350 million. The order book for the bonds
was significantly oversubscribed, reflecting the strong endorsement
by the capital markets for the Company and its business model. The
resulting annual interest rate for the bonds is 1.125 per cent.
The Company will use part of the proceeds to refinance certain
existing secured debt facilities, with the remainder to be deployed
towards the significant pipeline of potential acquisitions, as well
as general corporate purposes.
The bonds are governed by German law and will be listed on the
Euro MTF Market of the Luxembourg Stock Exchange.
Alistair Marks, Chief Financial Officer of Sirius, commented:
"The successful issue of our first corporate bonds, which was
heavily oversubscribed, is proof of the attractiveness and
sustainability of our business model. We were particularly pleased
to be able to successfully place the bonds with important
institutional investors and establish new capital and funding
sources on very attractive terms. The market has given us the clear
signal that our balanced financing strategy, comprising secured and
unsecured financing, is well regarded. The process will help us to
continue to execute our strategy of growth, taking advantage of the
strong demand for our product."
S
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Alistair Marks, CFO
+49 (0) 30 285010110
FTI Consulting (Financial PR)
Richard Sunderland / Claire Turvey / James McEwan / Talia
Jessener
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com
NOTES TO EDITORS
About Sirius Real Estate
Sirius is a property company listed on the main market and
premium segment of the London Stock Exchange and the main board of
the JSE Limited. It is a leading operator of branded business parks
providing conventional space and flexible workspace in Germany. The
Company's purpose is to create and manage optimal workspaces that
empower small and medium-sized businesses to grow, evolve and
thrive. Sirius seeks to unlock the potential of its people, its
properties, and the communities in which it operates, so that
together we can create sustainable impact, and long-term financial
and social value.
The Company's core strategy is the acquisition of business parks
at attractive yields, the integration of these business parks into
its network of sites under the Company's own name as well as
offering a range of branded products within those sites, and the
reconfiguration and upgrade of existing and vacant space to appeal
to the local market, through intensive asset management and
investment. The Company's strategy aims to deliver attractive
returns for shareholders by increasing rental income and improving
cost recoveries and capital values, as well as by enhancing those
returns through financing its assets on favourable terms. Once
sites are mature and net income and values have been optimised, the
Company may take the opportunity to refinance the sites to release
capital for investment in new sites or consider the disposal of
sites in order to recycle equity into assets which present greater
opportunity for the asset management skills of the Company's
team.
Sirius also has a venture with clients represented by AXA IM
Alts. Titanium was formed through the acquisition by AXA IM Alts,
on behalf of its clients, from Sirius, of a 65% stake in five
business parks across Germany. Sirius retained the remaining 35%.
The venture seeks to grow primarily through the acquisition of
larger stabilised business park assets and portfolios of assets
with strong tenant profiles and occupancy. As well as its equity
interest, Sirius acts as operator of the assets in the venture, on
a fee basis. Sirius will continue to grow its wholly owned
portfolio through acquisitions of more opportunistic assets, where
it can capitalise on its asset management expertise to maximise
utilisation of the space, grow occupancy and improve quality of the
tenants. The strategies have been clearly defined so that the
venture does not conflict with Sirius's existing business.
For more information, please visit:
www.sirius-real-estate.com
Follow us on LinkedIn at
https://www.linkedin.com/company/siriusrealestate/
Follow us on Twitter at @SiriusRE
JSE Sponsor
PSG Capital
Disclaimer
This publication does not constitute an offer to sell or the
solicitation of an offer to purchase any securities. Neither this
publication nor anything contained herein shall form the basis of,
or be relied upon in connection with, any offer or commitment
whatsoever in any jurisdiction.
This publication does not constitute an offer to sell or a
solicitation of an offer to purchase any securities in the United
States. Any securities referred to herein have not been and will
not be registered under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), or the laws of any state within the U.S.,
and may not be offered or sold in the United States absent
registration or an applicable exemption from registration or in a
transaction not subject to the registration requirements of the
Securities Act. There will be no offering of the bonds in the
United States. The bonds are being offered and sold outside the
United States only in reliance on Regulation S under the Securities
Act of 1933, as amended (the "Securities Act").
This publication is only being distributed to, and is only
directed at persons that are, outside the United Kingdom or, if
within the United Kingdom, to (i) persons who have professional
experience in matters relating to investments falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Financial
Promotion Order"), or (ii) persons falling within Article 49(2)(a)
to (d) ("high net worth companies, "unincorporated associations",
etc.) of the Financial Promotion Order, or (iii) persons to whom an
invitation or inducement to engage in investment activity (within
the meaning of section 21 of the Financial Services and Markets Act
2000 ("FSMA")) in connection with the issue or sale of the bonds
may otherwise lawfully be communicated or caused to be communicated
(all such persons together being referred to as "relevant
persons"). The bonds are only available to, and any invitation,
offer or agreement to subscribe, purchase or otherwise acquire such
bonds will be engaged in only with, relevant persons. Any person
who is not a relevant person should not act or rely on this
announcement or any of its contents. The bonds are not being
offered to the public in the United Kingdom. As a consequence, no
key information document required by Regulation (EU) 1286/2014 as
it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs
Regulation") for offering or selling the bonds or otherwise making
them available to retail investors in the UK has been prepared and
therefore offering or selling the bonds or otherwise making them
available to any retail investor in the UK may be unlawful under
the UK PRIIPs Regulation.
The securities referred to herein are not intended to be
offered, sold or otherwise made available to and should not be
offered, sold or otherwise made available to any retail investor in
the European Economic Area (the "EEA"). For these purposes, a
retail investor means a person who is one (or more) of: (i) a
retail client as defined in point (11) of Article 4(1) of Directive
(EU) 2014/65 (as amended, "MiFID II"); (ii) a customer within the
meaning of Directive (EU) 2016/97 as amended, where that customer
would not qualify as a professional client as defined in point (10)
of Article 4(1) of MiFID II or (iii) not a qualified investor as
defined in Regulation (EU) 2017/1129 of the European Parliament and
of the Council of June 14, 2017 (as amended, the "Prospectus
Regulation"). Consequently, no key information document required by
Regulation (EU) 1286/2014 (as amended or superseded, the "PRIIPs
Regulation") for offering or selling the bonds or otherwise making
them available to retail investors in the EEA has been prepared and
therefore offering or selling the bonds or otherwise making them
available to any retail investor in the EEA may be unlawful under
the PRIIPs Regulation.
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