LondonMetric Regulatory News (LMP)

22 September 2016

LONDONMETRIC PROPERTY PLC

LONDONMETRIC £130 MILLION PRIVATE PLACEMENT 

LondonMetric Property Plc ("LondonMetric" or "Company" or "Group") announces that it has entered into a £130 million private placement at a blended fixed rate coupon of 2.70% and a weighted average maturity of 8.3 years ("Private Placement").

The Private Placement was placed with US and UK institutional investors in three tranches:

· £65 million 2.62% Senior Notes due 2023;

· £40 million 2.72% Senior Notes due 2024; and

· £25 million 2.88% Senior Notes due 2028 ("Notes"). 

The proceeds of the Private Placement will be used to pay down some of the debt drawn under the Company's existing unsecured credit facility, which will remain available to draw in full. The Notes have the same financial covenants as the unsecured credit facility.

As a result of the Private Placement, the Group's weighted average debt maturity as at 30 September 2016 is expected to increase to 5.7 years.

Martin McGann, Finance Director of LondonMetric, commented:

 "We are very pleased to have established new lending relationships with four strong institutional investors. The Private Placement provides further diversification of funding sources at attractive rates and allows us further capacity to increase our investments within the long let logistics market."

This announcement is for informational purposes only and does not constitute an offer or solicitation to sell the Notes or any other securities in the Company or Group. The Notes have not been, nor will they be, registered in the United States under the United States Securities Act of 1933, as amended (the "Securities Act"), or under any state securities laws, and may not be offered or sold within the United States or to, or for the account or benefit of, United States persons unless the Notes are registered under the Securities Act or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

-Ends-

For further information, please contact:

LondonMetric Property Plc

Andrew Jones / Martin McGann

Tel: +44 (0) 20 7484 9000

FTI Consulting

Dido Laurimore / Tom Gough / Clare Glynn

Tel: +44 (0)20 3727 1000

About LondonMetric Property Plc

LondonMetric (ticker: LMP) aims to deliver attractive returns for shareholders through a strategy of increasing income and improving capital values. It invests across the UK in retail led distribution, out of town and convenience retail properties. It employs an occupier-led approach to property with a focus on strong income, asset management initiatives and short cycle development. Its portfolio is broadly split between distribution and retail with a total of 12 million sq ft under management. LondonMetric works closely with retailers, logistics providers and leisure operators to help meet their evolving real estate requirements.

Further information on LondonMetric is available at www.londonmetric.com.