Hammerson PLC

Capital/Financing Update • Mar 20, 2018

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RNS Number : 2131I

Hammerson PLC

20 March 2018

Hammerson plc

20 March 2018

Hammerson plc signs £1,500 million Revolving Credit Facility with a 3 year maturity

Following the announcement on 26 February 2018 with its year end results that terms had been agreed, Hammerson plc today announces the successful syndication and signing of a £1,500 million unsecured Revolving Credit Facility ("RCF") at an initial margin of 100 basis points with a syndicate of twelve of its relationship banks.  The facility has a maturity of three years.

This new facility can only be drawn on completion of the proposed acquisition of Intu Properties plc ("Intu") announced on 6 December 2017 and will be used to repay selected Intu debt facilities. The terms of the new facility include Hammerson's standard unsecured financial covenants.

The MUFG acted as Coordinator for the facility and HSBC Bank plc were appointed as Facility Agent.  Bank of China Limited London Branch, Barclays Bank plc, BNP Paribas, Deutsche Bank, HSBC Bank plc, J.P. Morgan Securities plc, Lloyds Bank plc, Mizuho Bank Ltd, National Westminster Bank Plc, Santander, MUFG and Wells Fargo Bank N.A. London Branch were appointed Mandated Lead Arrangers and Bookrunners.

Richard Sharp, Group Treasurer of Hammerson, said;

"This new facility supports our acquisition of Intu and is illustrative of the future refinancing opportunities in bringing Intu's secured debt structure onto Hammerson's unsecured debt platform.  It is further evidence of the strength of our relationships with our existing banking group and continues to demonstrate the attractiveness of Hammerson's credit profile."

For further information contact;

Timon Drakesmith, Chief Financial Officer

Tel: +44 (0) 20 7887 1000

Richard Sharp, Group Treasurer

Tel: +44 (0) 20 7887 1119

richard.sharp@hammerson.com

The announcement above has also been released on the SENS system of the Johannesburg Stock Exchange.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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