HAMMERSON PLC - Hammerson announces successful pricing of 12-year 400m bond issuance

Hammerson announces successful pricing of 12-year £400m bond issuance

Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO JSE share code: HMN
ISIN: GB00BRJQ8J25
("Hammerson" or the "Company")



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON
LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA, ITS
TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS,
GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY
STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED
STATES) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT")) OR IN OR INTO ANY
OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS
ANNOUNCEMENT.

3 October 2024

Hammerson announces successful pricing of 12-year £400m bond issuance

Hammerson announces it has successfully launched and priced a £400m bond with a maturity of 12
years, paying a coupon of 5.875 per cent. the ("New Bonds"), which will be issued on 8 October 2024,
subject to final legal documentation and customary closing conditions.

At its peak the order book was in excess of £2.6bn.

The proceeds of the New Bonds will be used to support the Company's growth strategy and refinance
Hammerson's outstanding: (i) £300,000,000 6.00 per cent. bonds due 2026; (ii) £300,000,000 7.25 per
cent. bonds due 2028; and (iii) £350,000,000 3.500 per cent. bonds due 2025.

Himanshu Raja, CFO of Hammerson plc, commented:

"We are delighted with the strong demand for our 12-year £400m bond which was 7x oversubscribed
at the peak. Investors recognise that this is an exciting new era for Hammerson, focused on
accelerating growth whilst maintaining our operational grip and financial discipline."

The New Bonds have been issued under Hammerson's newly established EMTN programme, the
base prospectus for which is available on Hammerson's website
(www.hammerson.com/investors/shareholder-information/debt-investors) and available to the public
for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanismon.

Hammerson has ratings of BBB (positive) (issuer default rating) and senior unsecured debt rating at
BBB+ from Fitch Ratings Limited ("Fitch") and Baa2 (long term debt) from Moody's Investors Services
Limited ("Moody's"). The New Bonds are expected to be assigned a BBB+ rating by Fitch and a Baa2
rating by Moody's. Barclays, BNP Paribas, Lloyds and Mizuho are acting as Active Bookrunners on the
issuance of the New Bonds.
Enquiries

Richard Sharp, Director of Treasury, Tax and Insurance
Tel: + 44 (0) 207 887 1119 E:richard.sharp@hammerson.com

Hammerson Investor Contacts
Josh Warren, Director of Strategy, Commercial Finance and Investor Relations
T: +44 (0) 20 7887 1053 E: josh.warren@hammerson.com

MHP for Hammerson Media
Ollie Hoare and Charles Hirst
T: +44 (0)20 3128 8100 E: Hammerson@mhpgroup.com

IMPORTANT DISCLAIMER: This announcement does not constitute or form part of an offer to sell or
the solicitation of an offer to sell or subscribe for or otherwise acquire any securities (including, without
limitation, the New Bonds). Any investment decision to purchase any New Bonds should be made solely
on the basis of the information contained in (i) the base prospectus dated 26 September 2024 published
by the Company relating to the EMTN programme of the Company (the "Prospectus") and (ii) the final
terms to be published by the Company relating to the New Bonds, and no reliance is to be placed on
any information given or any representations made in connection with the New Bonds other than those
contained in the Prospectus and the final terms to be published by the Company relating to the New
Bonds. This announcement is an advertisement and is not a prospectus for the purposes of Regulation
(EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
The Prospectus is available, and the final terms will, when published, be available on the website of the
Issuer at https://www.hammerson.com/investors/debt-investors.

The New Bonds are not being, and will not be, offered or sold in the United States. Nothing in this
announcement constitutes an offer to sell or the solicitation of an offer to buy the New Bonds in the
United States or any other jurisdiction. Securities may not be offered, sold or delivered in the United
States absent registration under, or an exemption from the registration requirements of, the Securities
Act. The New Bonds have not been, and will not be, registered under the Securities Act or the securities
laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered,
directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons (as
defined in Regulation S under the Securities Act).

No action has been or will be taken in any jurisdiction in relation to the new bonds to permit a public
offering of securities.

This announcement is directed only at (i) persons who are outside the United Kingdom (the "UK"), or
(ii) persons who are in the UK who are (a) 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 (the "Order") or (b) otherwise, persons to whom this announcement may lawfully
be communicated pursuant to the Order (all such persons together being referred to as "relevant
persons"). This announcement is directed only at relevant persons and must not be acted on or relied
on by persons who are not relevant persons. Any investment or investment activity to which this
announcement relates is available only to relevant persons and will be engaged in only with relevant
persons. This electronic transmission may only be communicated to persons in the UK in circumstances
where section 21(1) of the Financial Services and Markets Act 2000 does not apply to the Issuer.

Credit ratings referred to in this communication should not be taken as recommendations by a rating
agency to buy, sell or hold the New Bonds. They may be revised, suspended or withdrawn at any time
by the relevant rating agency.

Compliance information for the New Bonds:

UK MiFIR – professionals/ECPs-only / No PRIIPs or UK PRIIPs KID – Manufacturer target market is
eligible counterparties and professional clients only (all distribution channels). No key information
document (KID) under Regulation (EU) No 1286/2014 or Regulation (EU) No 1286/2014 as it forms part
of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 has
been or will be prepared as the New Bonds are not available to retail investors in the European
Economic Area or the United Kingdom. Relevant stabilisation regulations including FCA/ICMA will apply.

ENDS

Notes to editors

Hammerson has its primary listing on the London Stock Exchange and secondary inward listings on the
Johannesburg Stock Exchange and Euronext Dublin.

Sponsor: Investec Bank Limited






Date: 03-10-2024 08:33:00
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