British Land

British Land announces £300m bond issue

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

The new issue increases both diversity of funding and maturity, complying with the company’s financing strategy.

Barclays Bank, Lloyds and NatWest acted as joint active lead managers, while HSBC, Bank of Tokyo Mitsubishi and Santander were joint passive lead managers.

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

“We are pleased to have raised this unsecured debt in the sterling market, where investor demand has reflected confidence in our strategy,” said Lucinda Bell, CFO at British Land.

“The debut issue increases the total debt raised over the last five years to £4.5bn and enhances the diversity and maturity of British Land’s financing profile.”

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