Sirius issues EUR 59.9m of new notes in bond tap

LSE (GBP) Share Code: SRE

Sirius Real Estate Limited

("Sirius Real Estate", "Sirius", the "Group" or the "Company")

Sirius issues €59.9m of new notes in bond tap to its €300 million 1.75% notes due 2028

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., announces that it has issued €59.9 million nominal value of notes (the "Issuance") to be consolidated and form a single series with the €300 million 1.75% bonds due November 2028, issued originally on 18 November 2021 (ISIN: XS2412732708) (the "11/2021 Notes"). The new notes (the "New Notes") were priced in line with current trading levels and represent a 19.9% tap of the 11/2021 Notes. Net LTV will remain within Sirius' guidance of 40% or below.

The Issuance was supported by a single existing international institutional investor and follows strong demand for both Sirius' initial corporate bond issuance in June 2021, and the 11/2021 Notes.

The proceeds of the New Notes will be used towards the Company's significant pipeline of potential acquisitions in Germany and the U.K., as well as general corporate purposes.

Chris Bowman, Chief Financial Officer of Sirius Real Estate, commented: "This tap Issuance follows our successful €165 million (£147 million) equity raise last November and further demonstrates the continued appeal of our strategy, platform and portfolio to both credit and equity investors. The Issuance followed an approach from an existing large institutional investor wishing to support our long term strategy. The proceeds will help us to continue executing our value-add growth plan whilst remaining within our net LTV guidance of 40% or below, as we take advantage of the strong demand for our real estate product."