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Sirius Real Estate Ltd on Friday issued new notes to aid its growth plan. The Berlin-based owner and operator of business and industrial parks announced that it has issued €59.9 million of notes to be consolidated and form a single series with the €300 million 1.75% bonds issued in November 2021 and due November 2028. These new notes have been priced in line with current trading values and represent a 19.9% tap of the previously issued notes. Chief Financial Officer Chris Bowman said: ‘This tap issuance follows our successful €165 million (£147 million) equity raise last November and further demonstrates the continued appeal of our strategy, platform and portfolio to both credit and equity investors. ‘The proceeds will help us to continue executing our value-add growth plan whilst remaining within our net loan to value guidance of 40% or below, as we take advantage of the strong demand for our real estate product.’ Sirius Real Estate shares were down 0.2% to 91.10 pence each in London on Friday morning, and down 0.4% to ZAC2,257.00 in Johannesburg. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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