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Hammerson PLC on Thursday lauded ‘high levels of demand’ for its new green bonds, but the issuance has resulted in a slight downward revision of annual earnings guidance. The London-based real estate investment trust priced €350 million in bonds with a maturity of 6.5 years. They were priced at 110 basis points over euro mid-swaps with an annual coupon of 3.5%. It said the issuance was over five times covered at peak, with the new bonds representing the first stage of the early refinancing of its €700 million 1.75% sustainability-linked bonds maturing in June 2027. As a result of the earlier issuance of the €350 million in new bonds, Hammerson now expects annual earnings for 2025 to be around £101 million, down slightly from £102 million predicted late in July. Hammerson said strong support from the debt investors reflected its operational performance, with momentum continuing throughout the key summer months - from June to August - across all geographies. ‘UK footfall increased 6% year-on-year, representing an extra 1.3 million customer visits during the summer period, while our two French destinations were up 5% year-on-year, and Dundrum was up 3% - all ahead of national benchmarks,’ the company said. ‘We are delighted with the high levels of demand for our bond issue, a testament to the strength and success of our strategic delivery,’ Chief Executive Officer Rita-Rose Gagne said. Demand for Hammerson’s prime space is robust, and momentum is continuing into September and October, Gagne said, adding that the company has a strong pipeline ahead. Hammerson shares were up 0.6% to 287.00 pence early Thursday in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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