Sirius Real Estate Sirius Real Estate, JSE-listed owner of industrial parks in Germany and the UK, has taken both its public bonds to €500 million benchmark size which is expected to improve secondary market liquidity, while the proceeds will give the company further financial flexibility to refinance existing debt and support further accretive growth.
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Sirius Real Estate has successfully placed €185.1 million (R3.54 billion) nominal value of notes through taps of two of its existing corporate bonds, taking each bond to a total outstanding €500m.
The first issuance comprises €150m nominal value of notes to be consolidated and form a single series with the company’s existing €350m 4,000% bonds due January 22, 2032, originally issued in January 2025, a statement from the company said Thursday.
The second issuance comprises €35.1m nominal value of notes to be consolidated and form a single series with the company’s existing €464.9m 1.750% bonds due November 24, 2028, originally issued in November 2021.
"These bond taps demonstrate continued capital markets support for our strategy and portfolio, as well as the value and income we are able to generate from our operating platform," said Sirius’ chief financial officer, Chris Bowman.
"Taking both of our public bonds to €500m benchmark size is expected to improve secondary market liquidity, while the proceeds give us further financial flexibility to refinance debt and support further accretive growth. We maintain our disciplined approach to leverage."
The new notes were priced in line with current trading levels of the respective existing bonds and were well supported by the market, a statement said. Settlement of the issuances is expected to take place on June 17, 2026. Following settlement, the total outstanding nominal amount of each of the 2032 Notes and the 2028 Notes will be €500m.
The proceeds will be used for general corporate purposes and the refinancing of existing debt. Reaching €500m benchmark size for each bond is expected to improve secondary market liquidity across Sirius’ public debt platform and further strengthen the Group’s funding flexibility.
HSBC acted as sole structuring bank and sole global coordinator, with Barclays, BNP Paribas, and HSBC acting as active bookrunners, ABN AMRO acting as passive bookrunner in connection with the issuances, and Lazard acting as financial adviser.
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