Sirius Real Estate Ltd - London-based operator of German business parks - Announces that it is assessing the opportunity to issue senior unsecured bonds, as part of a broader strategy to move to a funding structure more balanced between secured and unsecured debt. Says proceeds would be used for the refinancing of secured debt and to fund potential asset acquisitions.
"A move towards more unsecured debt funding would have many benefits for Sirius including increasing operational flexibility through the creation of a much larger pool of unencumbered assets as well as enhancing our funding efficiency going forward," says Chief Executive Alistair Marks.
Current London stock price: 100.86 pence
Year-to-date change: up 8.0%
Current Johannesburg stock price: ZAR19.34
Year-to-date change: up slightly
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Sirius Real Estate (SRE)