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British Land £300m bond issue

08 September 2017 07:43

The British Land Company has announced its debut sterling bond issue for £300 million at a coupon of 2.375% for 12 years.

The company said that in line with its financing strategy, this new issue increased both diversity of funding and maturity.

Chief financial officer Lucinda Bell said: "We are pleased to have raised this unsecured debt in the sterling market, where investor demand has reflected confidence in our strategy.

"The debut issue increases the total debt raised over the last five years to £4.5 billion and enhances the diversity and maturity of British Land's financing profile."

Barclays Bank, Lloyds and NatWest acted as joint active lead managers.

HSBC, Bank of Tokyo Mitsubishi and Santander were joint passive lead managers.

Credit Agricole and Royal Bank of Canada were co-managers.

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