HAMMERSON PLC - Signs 360 million Revolving Credit Facility with a 5 year maturity

Signs £360 million Revolving Credit Facility with a 5 year maturity

Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE share code: HMSO JSE share code: HMN
ISIN: GB0004065016
(“Hammerson” or “the Company”)


Hammerson plc signs £360 million Revolving Credit Facility with a 5 year maturity

Hammerson plc announces the successful syndication and signing of a £360 million unsecured
Revolving Credit Facility (“RCF”) at an initial margin of 90 basis points with a syndicate of fourteen
international banks. The facility has a maturity of five years which may be extended to a
maximum of seven years.

This new facility will refinance an existing £175 million RCF maturing in April 2018. This existing
facility featured a margin of 150 basis points, so the new facility will result in a reduced margin of
60 basis points. The existing facility will be cancelled resulting in a net increase of £185 million of
available bank facilities and increasing total bank facilities to £1.2bn. The commercial terms of the
new facility are the same as Hammerson’s two other RCFs (a £415m RCF signed in April 2015 and
a £420m RCF signed in April 2016) and include Hammerson's standard unsecured financial
covenants.

This transaction is the latest in a sequence of recent transactions by Hammerson reinforcing the
strong financial position of the group and extending the maturity of debt. The £400m private
placement funded in January and both the £415m and £420m RCFs were extended by one year
earlier this month. The €1.5bn short-term facility raised for the acquisitions in Ireland and
Birmingham has now been fully repaid. This combination of transactions extends the weighted
average maturity of debt from 5.5 years at 31 December 2016 to 6.4 years on a pro forma basis.

MUFG acted as Coordinator for the facility and Deutsche Bank was appointed as Facility Agent.
BNP Paribas, First Commercial Bank Limited, ICBC (London) plc, J.P. Morgan Limited, The Royal
Bank Of Scotland PLC and Wells Fargo Bank were appointed Mandated Lead Arrangers and
Bookrunners. Commitments were also provided by Agricultural Bank of China (UK) Limited, Bank
of China Limited London Branch, Bank of Taiwan London Branch, Chang Hwa Commercial Bank
Limited London Branch, CIC and Hua Nan Commercial Bank London Branch.

Timon Drakesmith, Chief Financial Officer of Hammerson, said;

“This new credit facility is the latest milestone in our journey to reduce Hammerson's cost of debt
by refinancing in an attractive funding environment. I am particularly delighted to welcome five
new banks into our relationship group and appreciate the support from major institutions from
Asia, US and Europe.”

For further information contact;

Timon Drakesmith, Chief Financial Officer
Tel: +44 (0) 20 7887 1000
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Richard Sharp, Group Treasurer
Tel: +44 (0) 20 7887 1119
richard.sharp@hammerson.com

Hammerson has its primary listing on the London Stock Exchange and a secondary inward listing on the
Johannesburg Stock Exchange.

21 April 2017

Joint Sponsors:
Deutsche Securities (SA) Proprietary Limited
Java Capital




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