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Debut £250m, 6-year unsecured bond issuance
SUPERMARKET INCOME REIT PLC
(Incorporated in the United Kingdom)
Company Number: 10799126
LSE Share Code: SUPR
JSE Share Code: SRI
ISIN Code: GB00BF345X11
LEI: 2138007FOINJKAM7L537
("SUPR" or the "Company")
24 July 2025
DEBUT £250M, 6-YEAR, UNSECURED BOND ISSUANCE
Supermarket Income REIT plc is pleased to announce the issuance of its debut £250 million sterling-
denominated senior unsecured bond with a term of 6 years (the "Bonds"). The Bonds will be quoted on the
International Securities Market of the London Stock Exchange.
The Bonds will bear a coupon of 5.125% and were priced at a spread of 115 basis points over the relevant
benchmark. The bond issuance received strong demand from a broad range of high-quality institutional
investors, with the orderbook peaking in excess of £985 million.
Fitch Ratings Ltd is expected to assign the Bonds an investment-grade rating of BBB+, in-line with its existing
issuer ratings of Supermarket Income REIT plc. The net proceeds of the Bonds will be used for general
corporate purposes including the refinancing of existing debt facilities. The issuance represents a further
diversification of the Company's capital structure, as it transitions to primarily unsecured financing, and extends
its average debt maturity profile by almost two years.
Following the issuance of the Bonds, the Company's LTV will be 34% on a pro-forma basis, and the weighted
average debt maturity will be 4.6 years. The issuance will allow the Company to use the value of the existing
interest rate derivatives to hedge its overall interest rate exposure to c.4.7%, once the joint venture proceeds
have been redeployed, further supporting our focus on delivering a fully covered, growing and sustainable
dividend for our shareholders.
Mike Perkins, CFO of Supermarket Income REIT, commented:
"As previously indicated, it has been a long-held ambition of ours to issue a bond and we are pleased that it has
received such a strong level of investor interest. Our first bond issuance represents a significant milestone for
the Company, enhancing our financial flexibility and supporting our long-term growth strategy.
Securing this longer dated financing at an attractive fixed rate lowers SUPR's medium-term borrowing costs
and enhances the potential earnings accretion of our attractive acquisition pipeline as we continue to scale the
business."
Barclays, Goldman Sachs and HSBC acted as Joint Active Bookrunners on the transaction. Wells Fargo and
NatWest acted as Passive Bookrunners. SUPR was advised on the bond by Rothschild & Co.
FOR FURTHER INFORMATION
Supermarket Income REIT plc ir@suprplc.com
Rob Abraham / Mike Perkins / Chris McMahon
Stifel Nicolaus Europe Limited +44 (0)20 7710 7600
Mark Young / Rajpal Padam / Catriona Neville
Goldman Sachs International
Tom Hartley / Luca Vincenzini +44 (0)20 7774 1000
FTI Consulting +44 (0)20 3727 1000
Dido Laurimore / Eve Kirmatzis / Andrew Davis SupermarketIncomeREIT@fticonsulting.com
NOTES TO EDITORS:
Supermarket Income REIT plc(LSE: SUPR, JSE: SRI), a FTSE 250 company, is the only LSE listed company
dedicated to investing in grocery properties which are an essential part of the feed the nation infrastructure. The
Company owns 83 supermarkets(1) which are predominantly omnichannel, fulfilling online and in-person sales
and are let to leading supermarket operators in the UK and Europe. The portfolio was valued at £1.8 billion as
at 31 December 2024.
The Company's properties earn long-dated, secure, inflation-linked, growing rental income. SUPR targets a
progressive dividend and the potential for long term capital growth.
The Company's shares are traded on the LSE's Main Market and on the Main Board of the JSE Limited in South
Africa.
(1)75 directly owned, plus eight supermarkets via a 50:50 joint venture which is managed by the Company.
Further information is available on the Company's website www.supermarketincomereit.com
Stifel Nicolaus Europe Limited, which is authorised and regulated in the United Kingdom by the Financial
Conduct Authority, is acting exclusively for Supermarket Income REIT plc and no one else in connection with
this announcement and will not be responsible to anyone other than the Company for providing the protections
afforded to clients of Stifel Nicolaus Europe Limited nor for providing advice in connection with the matters
referred to in this announcement.
Goldman Sachs International, which is authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom, is acting exclusively
for Supermarket Income REIT plc and no one else in connection with this announcement and will not be
responsible to anyone other than the Company for providing the protections afforded to clients of Goldman
Sachs International nor for providing advice in connection with the matters referred to in this announcement.
.
United Kingdom
Sponsor: PSG Capital
Date: 24-07-2025 08:00:00
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