June 13 2026 12:15
GERMANY, SOUTH AFRICA
Sirius Real Estate last week announced that it successfully placed €185.1m million nominal value of notes through taps of two of its existing corporate bonds (together, the “Issuances”), taking each bond to a total outstanding nominal amount of €500m.
The first issuance comprises €150m nominal value of notes to be consolidated and form a single series with the company’s existing €350m 4.000% bonds due 22 January 2032, originally issued in January 2025.
The second issuance comprises €35.1m nominal value of notes to be consolidated and form a single series with the Company’s existing €464.9 million 1.750% bonds due 24 November 2028, originally issued in November 2021.
The new notes were priced in line with current trading levels of the respective existing bonds and were well supported by the market. Settlement of the Issuances is expected to take place on 17 June 2026. Following settlement, the total outstanding nominal amount of each of the 2032 Notes and the 2028 Notes will be €500m.
The proceeds of the new notes would be used for general corporate purposes and the refinancing of existing debt. Reaching €500m benchmark size for each bond is expected to improve secondary market liquidity across Sirius’ public debt platform and further strengthen the group’s funding flexibility.
HSBC acted as the structuring bank and global coordinator, with Barclays, BNP Paribas and HSBC acting as active bookrunners, and ABN AMRO acting as a passive bookrunner in connection with the issuances and Lazard acting as financial adviser.
“These latest bond taps further demonstrate the continued capital markets support for our strategy and portfolio, as well as the value and income we are able to generate from our operating platform,” Chris Bowman, chief financial officer of Sirius Real Estate said.
alistair@propertyflash.co.za
