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Sirius Real Estate delighted with investor response to €350mln bond issue


Sirius Real Estate Limited (LON:SRE) has raised €350mln through the issue of its first corporate bond.

The senior debt is expected to be rated BBB by agency Fitch and will carry a coupon of 1.125% with a five-year term and maturity in 2026.

Sirius added that the order book for the bonds was significantly oversubscribed. They will be listed on the Euro MTF Market of the Luxembourg Stock Exchange.

Some of the proceeds will be used to refinance existing secured debt facilities with the remainder earmarked for acquisitions, said the German business park specialist.

Alistair Marks, Sirius’ chief financial officer, added: “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.”

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