RNS Number : 4163G
Land Securities Group PLC
12 March 2024
 

12 March 2024

Land Securities Group PLC

("Landsec")

 

Landsec announces new bond issuance

 

Landsec's wholly-owned subsidiary, Land Securities Capital Markets PLC, has launched and priced a £300m bond with a maturity of 7.5 years, paying a coupon of 4.75% and representing a spread of 103 basis points over the reference gilt rate, subject to final legal documentation.

The transaction further strengthens Landsec's financial capacity, flexibility and maturity profile, following the maturity of two bonds in February 2024, totaling £417m.

Vanessa Simms, Chief Financial Officer at Landsec said: "This transaction further enhances Landsec's strong financial position, extending our weighted average debt maturity to 9.4 years and underpinning our future growth opportunities. The high-quality order book, which was multiple times over-subscribed, and competitive pricing highlight the continued strong investor demand for Landsec credit".

Ends

 


Please contact

Treasury                                               Investors
Duncan Holder                                      Edward Thacker
+44 (0)7912 519813                               +44 (0)7887 825869
duncan.holder@landsec.com                 edward.thacker@landsec.com

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
IODFLFSDVTILLIS