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€125m US private placement debt issue

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Hibernia REIT plc (HBRN)
21-May-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

 

€125m US private placement debt issue 

Hibernia REIT plc ("Hibernia") announces that it has entered an agreement to issue €125m of new unsecured US private placement notes (the "Issue"). 

The Issue comprises equal amounts of 10- and 12-year notes (the "Notes") with an average fixed coupon of 1.9%.  The Notes have been placed with five institutional investors, all new lenders to Hibernia.  The transaction was priced on 14 April 2021 and funds will be drawn on 23 July 2021. 

The Group's weighted average debt maturity at 31 March 2021 was 3.4 years and cash and undrawn facilities, net of commitments, amounted to €110m.  Proforma for the new Notes, the weighted average debt maturity at the same date is extended to 5.2 years and cash and undrawn facilities, net of commitments, increases to €235m.             

Tom Edwards-Moss, Chief Financial Officer of Hibernia, said:

"We are very pleased to have agreed this new debt issue, which increases our financial capacity and will help fund the development of our new office clusters at Clanwilliam Court and Harcourt Square.  We are also delighted to welcome five new investors as long-term lenders. The new notes have a fixed coupon below the average cost of our existing borrowings and significantly extend the weighted average maturity of our debt."

 

The Notes have not been and will not be registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

 

ENDS

 

Contacts:

Hibernia REIT plc +353 1 536 9100

Tom Edwards-Moss, Chief Financial Officer
Nick Treanor, Financial Controller

 

Murray Consultants

Doug Keatinge: +353 86 037 4163, dkeatinge@murraygroup.ie

Andrew Smith: +353 83 076 5717, asmith@murraygroup.ie

 

About Hibernia REIT plc

Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT"), listed on Euronext Dublin and the London Stock Exchange.  Hibernia owns and develops property and specialises in Dublin city centre offices.

 


ISIN:

IE00BGHQ1986

Category Code:

IOD

TIDM:

HBRN

LEI Code:

635400MHRA4QVVFTON18

OAM Categories:

3.1. Additional regulated information required to be disclosed under the laws of a Member State

Sequence No.:

106484

EQS News ID:

1199106


 

End of Announcement

EQS News Service

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