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Land Securities Group PLC on Thursday said its wholly-owned subsidiary, Land Securities Capital Markets PLC, has launched its inaugural £400 million green bond. The London-based commercial property developer and investor said the bond matures in 9.5 years, paying a coupon of 4.9%. Landsec said the transaction ‘enhances’ its financial capacity and flexibility, and combined with its pipleine of development opportunities in central London, and mixed use opportunities, Landsec is ‘extremely well placed to continue delivering against its strategy in the years ahead’. Chief Financial Officer Vanessa Simms said: ‘I am delighted to be issuing our first Green Bond, illustrating Landsec’s continuing green leadership credentials in the real estate sector. ‘The transaction clearly demonstrates Landsec’s ability to access competitively priced capital in more challenging market conditions and, as a result, Landsec remains well placed to perform as the economy transitions to a higher interest rate environment.’ Landsec shares fell 1.9% to 641.20 pence each in London on Thursday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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