Hammerson launches first sustainability-linked bond

 UK REIT Hammerson has completed the issue of a €700 mln sustainability-linked bond with a 6-year maturity period and a 1.75% coupon.  

The new issuance was combined with tender offers announced earlier this month in respect of the €500 mln 2% bonds due 2022, and the €500 mln 1.75% bonds due 2023.  

In a statement, Hammerson said it will use the proceeds from the issuance of the new bonds to repay existing financial debts.  

Himanshu Raja, CFO of Hammerson, said: ‘Together with our recent announcement of the disposal of the retail parks portfolio, this is another important step in strengthening the group's capital structure. The linking of the bond to our sustainability targets brings a stronger alignment between our financial and sustainability goals and we are pleased to have received a positive response to our bond, which was 2x covered.’


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