Sirius Real Estate raises €105m in bond tap for acquisitions

Sirius Real Estate, an owner and operator of business and industrial parks in Germany and the U.K., announced the issuance of €105 million in new notes. These notes will consolidate with its existing €359.9 million 1.75% bonds due November 2028. This marks the second tap of the original notes, following a €59.9 million raise in May 2024.

The issuance, executed with HSBC Continental Europe as the sole lead manager, was priced in line with current trading levels of the existing notes. Proceeds from the new notes will primarily fund the company's pipeline of potential acquisitions in Germany and the U.K., as well as support general corporate activities. This follows strong demand for the company's €350 million seven-year bond issued in January 2025.

Chris Bowman, cfo of Sirius Real Estate, highlighted that this bond tap enhances the company's capacity for accretive growth while maintaining disciplined leverage below 40%. The company has undertaken €300 million in acquisitions this year, including the £101.1 million acquisition of the Hartlebury Trading Estate. Sirius continues to identify attractive opportunities to scale its business in both Germany and the U.K.