Chicago, May 27 – Hammerson Ireland Finance DAC sold €700 million of 1.75% sustainability-linked bonds due June 3, 2027 (//BBB+), according to a notice.
The notes were sold at 99.112.
Interest on the notes is paid annually. The rate could step up if certain sustainability targets are not met.
The notes are guaranteed by Hammerson plc.
The offer was twice oversubscribed.
Barclays, BNP Paribas, J.P. Morgan and MUFG were joint lead managers.
Barclays and BNP are ESG structuring coordinators.
Passive bookrunners are Bank of China, ICBC Standard Bank, Mizuho and Wells Fargo.
Proceeds are to be used to repay debt.
Hammerson is a real estate investment trust based in London.
| Issuer: | Hammerson Ireland Finance DAC
|
| Guarantor: | Hammerson plc
|
| Issue: | Sustainability-linked bonds
|
| Amount: | €700 million
|
| Maturity: | June 3, 2027
|
| Bookrunners: | Barclays, BNP Paribas, J.P. Morgan, MUFG (active), Bank of China, ICBC Standard Bank, Mizuho and Wells Fargo
|
| Counsel to issuer: | Lazard & Co. Ltd. and EY Capital & Debt Advisory
|
| Coupon: | 1.75%
|
| Price: | 99.112
|
| Trade date: | May 26
|
| Ratings: | Moody’s: Baa3
|
| Fitch: BBB+
|
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