Norton Rose Fulbright advises Sirius Real Estate Limited on a dual tranche issuance of bonds totalling EUR 185 million

Global law firm Norton Rose Fulbright has advised Sirius Real Estate Limited on the successful issuance of two unsecured bond tranches with a total volume of over EUR 185 million.

In connection with the issuance, existing bonds from 2025 and 2021 were tapped and thereby increased by EUR 150 million and EUR 35.1 million, respectively, to a total nominal amount of EUR 500 million each. The existing bonds carry interest of 4.00% and 1.75%, respectively, and are each subject to German law and will mature in January 2032 and November 2028, respectively. The bonds are included in trading on the Euro MTF Market of the Luxembourg Stock Exchange. The issuances of the new bond tranches were carried out on the basis of a short-form prospectus format in accordance with the Rules and Regulations of the Luxembourg Stock Exchange.

The proceeds from the new bond tap issuances will be used primarily to refinance existing debt and for general corporate purposes.

HSBC, Barclays Bank, BNP PARIBAS and ABN AMRO acted as joint bookrunners in the transaction. Lazard acted as financial advisor.

Sirius Real Estate is a leading owner and operator of commercial and industrial parks offering conventional and flexible workspaces in Germany and the UK. Norton Rose Fulbright has advised Sirius Real Estate on all previous bond issuances, including the issuance of the bonds in 2021 and 2025 which have now been tapped.

Sirius Real Estate was advised by a Frankfurt-based Norton Rose Fulbright team led by partner Dr Frank Peter Regelin and senior associate Denis Draeger (both Corporate/Capital Markets). The team also included Senior Associate Florian Fraunhofer (Banking/Capital Markets).

Norton Rose Fulbright's German capital markets team advises both investment banks and issuers in connection with national and international capital market transactions in the areas of debt capital markets and structured finance, in particular bonds, commercial papers, covered bonds, structured bonds, securitised derivatives, hybrid instruments, registered bonds, promissory notes and issuance programmes as well as related regulatory issues.