Sirius Real Estate considering issue of senior unsecured bonds
Sirius Real Estate Ltd.
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16:40 28/03/24
Sirius Real Estate said on Wednesday 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".
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The company, which operates branded business and industrial parks in Germany, said any proceeds of a bond issue would be used to refinance secured debt and fund potential asset acquisitions.
Chief financial officer Alistair Marks said: "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."