Shaftesbury PLC Bond Issuance (1329Q)

TIDMSHB

RNS Number : 1329Q

Shaftesbury PLC

07 September 2017

Shaftesbury PLC

Bond issuance

Shaftesbury PLC, the Real Estate Investment Trust that owns a 14 1/2 acre portfolio in London's West End, announces that, further to the announcement on 31 August 2017, Shaftesbury Chinatown PLC, a wholly-owned subsidiary, has today issued GBP290 million first mortgage bonds due 30 September 2027 with a coupon of 2.348%. The bonds are secured on properties held by Shaftesbury Chinatown PLC and benefit from an unsecured guarantee from Shaftesbury PLC.

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 8 September 2017. Further details of the Bonds are contained in a prospectus dated 5 September 2017, which has been filed with Morningstar plc (appointed by the Financial Conduct Authority to act as the National Storage Mechanism) and will be available for viewing at http://www.morningstar.co.uk/uk/NSM.

A copy of the full document can also be accessed on the link below or, alternatively, by pasting the following URL into the address bar of your internet browser:

http://www.rns-pdf.londonstockexchange.com/rns/1329Q_-2017-9-7.pdf

Invesco Asset Management Limited as agent for and on behalf of its discretionary managed clients has purchased GBP28,000,000 of these bonds. This transaction is disclosed in accordance with LR11.1.10R and Shaftesbury has received written confirmation from its sponsor that the terms of the transaction are fair and reasonable as far as Shaftesbury's shareholders are concerned.

IDCM Limited and Lloyds Bank plc acted as joint lead managers and National Australia Bank acted as passive lead manager in respect of the issue of the Bonds.

Ends.

7 September 2017

For further information:

 
 Shaftesbury PLC 020 7333        RMS Partners 020 3735 6551 
  8118                            Simon Courtenay 
  Chris Ward, Finance Director    MHP Communications 020 
                                  3128 8100 
                                  Reg Hoare/Gina Bell 
 

About Shaftesbury

Shaftesbury PLC is a Real Estate Investment Trust, which owns an exceptional 14 1/2 acre portfolio in the heart of London's West End - a highly popular, sought-after and prosperous destination for visitors and businesses. Our holdings are concentrated in Carnaby, Covent Garden, Chinatown, Soho and Charlotte Street.

Our objective is to deliver long-term outperformance in growth in rental income, capital values and shareholder returns.

We focus on retail, restaurants and leisure in the liveliest parts of the West End. At 31 March 2017 our portfolio comprised 282 restaurants, cafés and pubs and 301 shops, together extending to 1.1 million sq. ft., and accounting for 70% of our current income. In our locations, these uses have a long record of occupier demand exceeding their availability. The portfolio also includes 405,000 sq. ft. of offices and 570 apartments for rent, which provide 17% and 13%, respectively, of our current income.

In addition, we have a 50% interest in the Longmartin joint venture with The Mercers' Company, which has a long leasehold interest in St Martin's Courtyard in Covent Garden. Extending to 1.9 acres, it includes 21 shops, ten restaurants and cafés, 102,000 sq. ft. of offices and 75 apartments.

Forward-looking statements

This document may contain certain 'forward-looking' statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Actual outcomes and results may differ materially from any outcomes or results expressed or implied by such forward-looking statements.

Any forward-looking statements made by, or on behalf of, Shaftesbury PLC speak only as of the date they are made and no representation or warranty is given in relation to them, including as to their completeness or accuracy or the basis on which they were prepared. Shaftesbury PLC does not undertake to update forward-looking statements to reflect any changes in its expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

Information contained in this document relating to Shaftesbury PLC or its share price, or the yield on its shares, should not be relied upon as an indicator of future performance.

Intended addressees

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFERING OF THE FIRST MORTGAGE BONDS DESCRIBED HEREIN.

THIS ANNOUNCEMENT MAY NOT BE DISTRIBUTED, TAKEN OR TRANSMITTED IN OR INTO THE UNITED STATES, ITS TERRITORIES OR POSSESSIONS OR TO U.S. PERSONS, OR IN OR INTO ANY OTHER JURISDICTION IN WHICH TO DO SO WOULD BE UNLAWFUL AND ANY FORWARDING, DISTRIBUTION OR REPRODUCTION OF THIS ANNOUNCEMENT IN WHOLE OR IN PART IS UNAUTHORISED. FAILURE TO COMPLY WITH THIS NOTICE MAY RESULT IN A VIOLATION OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS.

THIS ANNOUNCEMENT IS ONLY DIRECTED AT (I) PERSONS WHO ARE OUTSIDE THE UNITED KINGDOM OR (II) THOSE PERSONS WHO ARE EXISTING MEMBERS OR CREDITORS OF THE COMPANY OR OTHER PERSONS WITHIN ARTICLE 43 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER") OR (III) INVESTMENT PROFESSIONALS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE "ORDER") OR (IV) HIGH NET WORTH COMPANIES, AND OTHER PERSONS TO WHOM IT MAY LAWFULLY BE COMMUNICATED, FALLING WITHIN ARTICLE 49(2)(A) TO (D) OF THE ORDER (ALL SUCH PERSONS IN (I), (II), (III) AND (IV) ABOVE TOGETHER BEING REFERRED TO AS "RELEVANT PERSONS") AND MUST NOT BE ACTED ON OR RELIED UPON BY PERSONS OTHER THAN RELEVANT PERSONS. FOR ANY PERSON VIEWING THIS ANNOUNCEMENT WHO IS NOT A RELEVANT PERSON, THIS ANNOUNCEMENT IS PUBLISHED FOR INFORMATION PURPOSES ONLY.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 07, 2017 07:25 ET (11:25 GMT)