NOT FOR RELEASE, PUBLICATION OR
DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES,
CANADA OR JAPAN.
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION AS DEFINED FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET
ABUSE REGULATION (EU NO. 596/2014), AS IT FORMS PART OF THE UNITED
KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)
ACT 2018, AS AMENDED.
SIRIUS REAL ESTATE LIMITED
(Incorporated in Guernsey)
Company Number: 46442
JSE Share Code: SRE
LSE (GBP) Share Code: SRE
LEI: 213800NURUF5W8QSK566
ISIN Code: GG00B1W3VF54
17 May 2024
Sirius
Real Estate Limited
("Sirius
Real Estate", "Sirius", the "Group" or the "Company")
Sirius
issues €59.9m of new notes in bond tap to its €300 million 1.75%
notes due 2028
Sirius Real Estate, the leading owner and
operator of branded business and industrial parks providing
conventional space and flexible workspace in Germany and the U.K.,
announces that it has issued €59.9 million nominal value of notes
(the "Issuance") to be
consolidated and form a single series with the €300 million 1.75%
bonds due November 2028, issued originally on 18 November 2021
(ISIN: XS2412732708) (the "11/2021 Notes"). The new notes (the
"New Notes") were priced in
line with current trading levels and represent a 19.9% tap of the
11/2021 Notes. Net LTV will remain within Sirius' guidance of 40%
or below.
The Issuance was supported by a single existing
international institutional investor and follows strong demand for
both Sirius' initial corporate bond issuance in June 2021, and the
11/2021 Notes.
The proceeds of the New Notes will be used
towards the Company's significant pipeline of potential
acquisitions in Germany and the U.K., as well as general corporate
purposes.
Chris Bowman,
Chief Financial Officer of Sirius Real Estate,
commented: "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
Issuance followed an approach from an existing large institutional
investor wishing to support our long term strategy. The proceeds
will help us to continue executing our value-add growth plan whilst
remaining within our net LTV guidance of 40% or below, as we take
advantage of the strong demand for our real estate
product."
ENDS
For further information:
Sirius Real Estate
Andrew Coombs, CEO / Chris Bowman,
CFO
+49 (0) 30 285 010 110
FTI Consulting (Financial PR)
Richard Sunderland / James McEwan /
Talia Shirion / Millie James
+44 (0) 20 3727 1000
SiriusRealEstate@fticonsulting.com
NOTES
TO EDITORS
About Sirius Real Estate
Sirius is a property company listed
on the main and premium market of the London Stock Exchange and the
main board of the JSE Limited. It is a leading owner and operator
of branded business and industrial parks providing conventional
space and flexible workspace in Germany and the U.K. As of 30
September 2023, the Group's portfolio comprised 139 assets let to
9,248 tenants with a total book value of over €2 billion,
generating a total annualised rent roll of €184.2 million. Sirius
also holds a 35% stake in Titanium, its €350+ million
German-focused joint venture with clients of AXA IM
Alts.
The Company's strategy centres on
acquiring business parks at attractive yields and integrating them
into its network of sites - both under the Sirius and BizSpace
names and alongside a range of branded products. The business then
seeks to reconfigure and upgrade existing and vacant space to
appeal to the local market via intensive asset management and
investment and may then choose to refinance or dispose of assets
selectively once they meet maturity, to release capital for new
investment. This active approach allows the Company to generate
attractive returns for shareholders through growing rental income,
improving cost recoveries and capital values, and enhancing returns
through securing efficient financing terms.
For more information, please
visit: www.sirius-real-estate.com
Follow us on LinkedIn
at https://www.linkedin.com/company/siriusrealestate/
Follow us on X (Twitter) at
@SiriusRE
JSE Sponsor
PSG Capital
Disclaimer
This announcement is not for
publication or distribution, directly or indirectly, in or into the
United States of America. This announcement is not an offer
of securities for sale into the United States. The securities
referred to herein have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered
or sold in the United States, except pursuant to an applicable
exemption from registration. No public offering of securities
is being made in the United States.
This publication does not constitute
an offer to sell or the solicitation of an offer to purchase any
securities. Neither this publication nor anything contained herein
shall form the basis of, or be relied upon in connection with, any
offer or commitment whatsoever in any jurisdiction.
This publication is only being
distributed to, and is only directed at persons that are, outside
the United Kingdom or, if within the United Kingdom, to (i) persons
who have professional experience in matters relating to investments
falling within Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (as amended, the
"Financial Promotion Order"), or (ii) persons falling within
Article 49(2)(a) to (d) ("high net worth companies, "unincorporated
associations", etc.) of the Financial Promotion Order, or (iii)
persons to whom an invitation or inducement to engage in investment
activity (within the meaning of section 21 of the Financial
Services and Markets Act 2000 ("FSMA")) in connection with the
issue or sale of the bonds may otherwise lawfully be communicated
or caused to be communicated (all such persons together being
referred to as "relevant persons"). The bonds are only available
to, and any invitation, offer or agreement to subscribe, purchase
or otherwise acquire such bonds will be engaged in only with,
relevant persons. Any person who is not a relevant person should
not act or rely on this announcement or any of its contents. The
bonds are not being offered to the public in the United Kingdom. As
a consequence, no key information document required by Regulation
(EU) 1286/2014 as it forms part of domestic law by virtue of the
EUWA (the "UK PRIIPs Regulation") for offering or selling the bonds
or otherwise making them available to retail investors in the UK
has been prepared and therefore offering or selling the bonds or
otherwise making them available to any retail investor in the UK
may be unlawful under the UK PRIIPs Regulation.
The securities referred to herein
are not intended to be offered, sold or otherwise made available to
and should not be offered, sold or otherwise made available to any
retail investor in the European Economic Area (the "EEA"). For
these purposes, a retail investor means a person who is one (or
more) of: (i) a retail client as defined in point (11) of Article
4(1) of Directive (EU) 2014/65 (as amended, "MiFID II"); (ii) a
customer within the meaning of Directive (EU) 2016/97 as amended,
where that customer would not qualify as a professional client as
defined in point (10) of Article 4(1) of MiFID II or (iii) not a
qualified investor as defined in Regulation (EU) 2017/1129 of the
European Parliament and of the Council of June 14, 2017 (as
amended, the "Prospectus Regulation"). Consequently, no key
information document required by Regulation (EU) 1286/2014 (as
amended or superseded, the "PRIIPs Regulation") for offering or
selling the bonds or otherwise making them available to retail
investors in the EEA has been prepared and therefore offering or
selling the bonds or otherwise making them available to any retail
investor in the EEA may be unlawful under the PRIIPs
Regulation.