Sirius issues €185.1 million of notes in bond taps

LSE (GBP) Share Code: SRE

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

Sirius issues €185.1 million of new notes in taps of two existing corporate bonds which extend each to €500.0 million benchmark size

Sirius Real Estate announces that it has successfully placed €185.1 million nominal value of notes through taps of two of its existing corporate bonds (together, the "Issuances"), taking each bond to a total outstanding nominal amount of €500.0 million.

The first issuance comprises €150.0 million nominal value of notes to be consolidated and form a single series with the Company's existing €350.0 million 4.000% bonds due 22 January 2032, originally issued in January 2025 (ISIN: XS2973477990) (the "2032 Notes").

The second issuance comprises €35.1 million nominal value of notes to be consolidated and form a single series with the Company's existing €464.9 million 1.750% bonds due 24 November 2028, originally issued in November 2021 (ISIN: XS2412732708) (the "2028 Notes").

The new notes were priced in line with current trading levels of the respective existing bonds and were well supported by the market. Settlement of the Issuances is expected to take place on 17 June 2026. Following settlement, the total outstanding nominal amount of each of the 2032 Notes and the 2028 Notes will be €500.0 million.

The proceeds of the new notes will be used for general corporate purposes and the refinancing of existing debt. Reaching €500.0 million benchmark size for each bond is expected to improve secondary market liquidity across Sirius' public debt platform and further strengthen the Group's funding flexibility.

HSBC acted as Sole Structuring Bank and Sole Global Coordinator, with Barclays, BNP Paribas and HSBC acting as Active Bookrunners, ABN AMRO acting as Passive Bookrunner in connection with the Issuances and Lazard acting as Financial Adviser.

Chris Bowman, Chief Financial Officer of Sirius Real Estate, commented: "These latest bond taps further demonstrate the continued capital markets support for our strategy and portfolio, as well as the value and income we are able to generate from our operating platform. Taking both of our public bonds to €500 million benchmark size is expected to improve secondary market liquidity, while the proceeds give us further financial flexibility to refinance existing debt and support further accretive growth. We maintain our disciplined approach to leverage."

JSE Sponsor

PSG Capital