Hogan Lovells Advises Shaftesbury on its £285m Bond Issue

Hogan Lovells, London has advised Shaftesbury, the listed UK REIT, in connection with its issue of Guaranteed First Mortgage Bonds  in a deal worth £285 million.

With a coupon of 2.487% and maturity in September 2031, the Bonds are expected to be admitted to listing on the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange on 10 October 2016.

The cross-practice team was led by London corporate partner, Nigel Read, London real estate partner, Gill McGreevy and London debt capital markets partner, Andrew Carey.  

Commenting on the transaction, Nigel Read, said:

"This deal illustrates that appetite for investment in good quality assets in London's West End is alive and kicking post-Brexit vote. The issue is one of the first wholesale secured property bonds in the London market in recent years and significantly increases Shaftesbury's financial resources for further investment in its portfolio."

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