Sirius issues €105 million of notes in bond tap

LSE (GBP) Share Code: SRE

Sirius Real Estate Limited

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

Sirius issues €105 million of new notes in bond tap of existing €359.9 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 €105 million nominal value of notes (the "Issuance") to be consolidated and form a single series with its existing €359.9 million 1.75% bonds due November 2028, which were originally issued on 18 November 2021 (ISIN: XS2412732708) (the "11/2021 Notes"). This is the second tap of the original €300 million 11/2021 Notes, following a successful €59.9 million raise in May 2024.

The new notes were priced in line with current trading levels of the 11/2021 Notes and the Issuance was executed directly with HSBC Continental Europe, the sole lead manager. This follows very strong demand for the Company's €350 million seven-year bond issued in January 2025. The proceeds of the new notes will be used toward the Company's pipeline of potential acquisitions in Germany and the U.K., as well as for general corporate purposes.

Chris Bowman, Chief Financial Officer of Sirius Real Estate, commented: "This latest bond tap underscores confidence in our strategy, platform and portfolio. The €105 million proceeds enhance our capacity to pursue accretive growth, while maintaining disciplined leverage and preserving our net LTV within our long-standing guidance of below 40%. Having undertaken some €300 million of acquisitions this year, including the recently announced £101.1 million acquisition of the Hartlebury Trading Estate which was transformational for our BizSpace platform in the U.K., we continue to see attractive opportunities to scale our business in both Germany and the U.K. This additional funding will help support that growth."

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