Wrap Text
Bond pricing update, RCF renewal and extension, and FY26 guidance maintained
Hammerson plc
(Incorporated in England and Wales)
(Company number 360632)
LSE and Euronext Dublin share code: HMSO JSE share code: HMN
("Hammerson" or the "Company" and, together with its subsidiaries and its proportionally
consolidated share of its non-wholly owned properties and joint ventures, the "Group")
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.
2 June 2026
Bond pricing update, RCF renewal and extension, and FY26 guidance maintained
Successful pricing of 5-year EUR350m bond
Hammerson announces the pricing of a EUR350m bond with a maturity of 5 years at 110 basis points
over euro mid-swaps with an annual coupon of 3.875 per cent (the "New Bonds"). The issuance was
over five times covered at peak.
The New Bonds represent the next stage of the refinancing of the Group's EUR700m 1.75 per cent.
Sustainability-Linked bonds maturing in June 2027. After the new issuance, the weighted average
maturity of the Group's debt stands at 4.7 years.
Renewal and extension of Revolving Credit Facilities
In April, the Group refinanced its £463m Revolving Credit Facility with its existing lenders on terms
unchanged from those previously in place. The facility is committed and undrawn, has an initial maturity
date of April 2029 and includes two one-year extension options.
At the same time, the Group exercised the extension options in respect of its two additional committed
Revolving Credit Facilities, totalling £150m, thereby extending their maturities by one year to April 2029
and increasing the Group's total committed and undrawn facilities to £613m.
FY26 guidance maintained
The Company maintains its FY26 EPRA earnings guidance of c.£120m.
Enquiries
Hammerson Contacts
Richard Sharp, Director of Treasury and Insurance
T: + 44 (0) 207 887 1119 E: richard.sharp@hammerson.com
Josh Warren, Director of Group Performance and Investor Relations
T: +44 (0) 20 7887 1053 E: josh.warren@hammerson.com
Tom Gough, Head of Communications
T: +44 (0) 20 7887 1092 E: tom.gough@hammerson.com
MHP for Hammerson Media
Oliver Hughes, Ollie Hoare and Charles Hirst
T: +44 (0) 7817 458 804 E: Hammerson@mhpgroup.com
Additional Bond Information
The New Bonds, which will be issued on 8 June 2026, are subject to final legal documentation and
customary closing conditions.
The New Bonds will be issued under Hammerson's EMTN programme established in 2024 and most
recently updated on 24 April 2026. The base prospectus dated 24 April 2026 published by the Company
relating to the EMTN programme of the Company (the "Prospectus") is available on Hammerson's
website at (www.hammerson.com/investors/shareholder-information/debt-investors) and available to
the public for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Hammerson has ratings of BBB+ (issuer default rating) with a stable outlook and senior unsecured debt
rating at A- 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 an A- rating by Fitch and a
Baa2 rating by Moody's.
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 the Prospectus and 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 the Prospectus Rules: Admission to
Trading on a Regulated Market sourcebook. The Prospectus is available, and the final terms will, when
published, be available on the website of the Company 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 Company.
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:
EU MiFID II professionals/ECPs-only/No EU PRIIPs KID
UK MiFIR – professionals/ECPs-only / No DISC disclosure document
Manufacturer target market is eligible counterparties and professional clients only (all distribution
channels). No EU PRIIPs key information document (KID) and no UK disclosure document required by
the FCA Product Disclosure Sourcebook have been or will be prepared as the New Bonds are not
available to retail investors in the European Economic Area or the UK. Relevant stabilisation regulations
including FCA/ICMA will apply.
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: 02-06-2026 08:00:00
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