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Hammerson PLC - London-based real estate investment trust owns city-centre shopping centres in the UK and elsewhere - Completes refinancing transactions that saw it issue new bonds and repurchase existing ones. It issues 12-year bonds at a coupon of 5.875%, raising £400 million. Uses the proceeds to buy back bonds for £411.6 million, comprising £168.4 million of 6% 2026 notes and £243.2 million of 7.25% 2028 issues. Says this reduces weighted average gross interest to 3.6% from 3.8% and extends its weighted average debt maturity to 5.2 years from 2.9 years. Current stock price in London: 314.00 pence, up 1.8% on Wednesday afternoon 12-month change: up 28% Current stock price in Johannesburg: R 72.36, up 1.9% 12-month change: up 27% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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