- Today's Hot Chat Topics
- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesStock PickerFinancial DiaryUK IndicesUK Industry SectorsCompany LookupShare RisersShare FallersBroker RatingsFinance GlossarySMS ServicesShare ChatFinance NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
British Land Share News (BLND)
Share News for British Land (BLND)
| Share Price: 597.00 | Bid: 598.00 | Ask: 598.50 | Change: 0.00 (0.00%) |  | ||||||
| ||||||||||
British Land closes $480 million bond issue
Thu, 8th Sep 2011 07:49
LONDON, Sept 8 (Reuters) - British Land, the second-largest UK real estate investment trust (R
It is the largest US private placement by a UK REIT, involving 12 investors and a range of maturities between 7 and 15 years.
'For any of the UK REITS diversifying, their source of funding is a positive,' said Mike Bessell, a property analyst at Evolution Securities.
'Traditional large lenders to the sector in the UK such as RBS and Lloyds are reducing their exposure.'
Other property companies to announce bond issues this year are Great Portland Estates and Derwent London.
The oversubscribed placement, originally launched at $200 million, takes the company's weighted average debt maturity and interest rate, including share of joint ventures and fund debt, to 9.7 years and 4.8 percent respectively, British Land said.
RBS and HSBC acted as joint agents and hedge co-ordinators, and Lloyds provided hedge underwriting and syndication.
(Reporting by Tom Bill; Editing by David Hulmes)
(tom.bill@thomsonreuters.com)(+44 20 7542 2040)(Reuters Messaging:)(See www.reutersrealestate.com for the global service for real estate professionals from Reuters)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, Sept 8 (Reuters) - British Land, the second-largest UK real estate investment trust (R
EIT), closed a $480 million US private placement bond issue, taking the total funds it has raised since May to $860 million, it said on Thursday.
It is the largest US private placement by a UK REIT, involving 12 investors and a range of maturities between 7 and 15 years.
'For any of the UK REITS diversifying, their source of funding is a positive,' said Mike Bessell, a property analyst at Evolution Securities.
'Traditional large lenders to the sector in the UK such as RBS and Lloyds are reducing their exposure.'
Other property companies to announce bond issues this year are Great Portland Estates and Derwent London.
The oversubscribed placement, originally launched at $200 million, takes the company's weighted average debt maturity and interest rate, including share of joint ventures and fund debt, to 9.7 years and 4.8 percent respectively, British Land said.
RBS and HSBC acted as joint agents and hedge co-ordinators, and Lloyds provided hedge underwriting and syndication.
(Reporting by Tom Bill; Editing by David Hulmes)
(tom.bill@thomsonreuters.com)(+44 20 7542 2040)(Reuters Messaging:)(See www.reutersrealestate.com for the global service for real estate professionals from Reuters)
COPYRIGHT
Copyright Thomson Reuters 2011. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
British Land to exit mainland Europe as economic crisis bites
LONDON, May 14 (Reuters) - Property developer British Land is looking to sell its 255 million pound ($391 million) portfolio of retail properties in[14 May '13]
Canada Pension Plan, Hammerson buy UK mall stake for 307 mln stg
LONDON, May 3 (Reuters) - Canada's Pension Plan Investment Board (CPPIB), one of the world's largest pension funds, and landlord Hammerson have bought[3 May '13]
London luxury residential property boom looking shaky -Grosvenor
* Grosvenor says luxury home price growth unsustainable* Group focusing on diversification to offset risk* Pretax profit rises 12.5 pct, returns fall[16 Apr '13]
Ex-divs to take 3.1 points off FTSE 100 on March 27
The following FTSE 100 companies will go ex-dividend on Wednesday, after which investors will no longer qualify for the latest dividend payout.[25 Mar '13]
UPDATE 2-British Land raises almost £1 bln to fund investments
LONDON, March 12 (Reuters) - British Land raised close to 1 billion pounds ($1.49 billion) for new investments and developments on Tuesday via a 493 m[12 Mar '13]
STOCKS NEWS EUROPE-British Land weakens on share placing
Shares in landlord British Land fall 3.2 percent, second-top fallers on a slightly firmer FTSE 100 index, after saying it plans to raise 500 million p[12 Mar '13]
CORRECTED-UPDATE 1-British Land to raise $745 mln for new investments
(Corrects headline to show amount raised is $745 mln, not $703 mln)LONDON, March 12 (Reuters) - Landlord British Land said it intends to raise 500 mi[12 Mar '13]
UPDATE 2-Designer bargain outlets help Hammerson beat rival Intu
By Tom BillLONDON, March 1 (Reuters) - Retail landlord Hammerson had a better 2012 than rival Intu Properties, due to wealthy tourists hunting for ba[1 Mar '13]
