Land Securities Group PLC, a leading real estate company, has announced the launch and pricing of a £300m bond with a maturity of 7.5 years. The bond will pay a coupon of 4.75% and represents a spread of 103 basis points over the reference gilt rate, subject to final legal documentation. This issuance follows the maturity of two bonds in February 2024, totaling £417m, and is aimed at further strengthening Landsec's financial capacity, flexibility, and maturity profile.

Vanessa Simms, Chief Financial Officer at Landsec, highlighted the significance of this transaction, stating, "This transaction further enhances Landsec's strong financial position, extending our weighted average debt maturity to 9.4 years and underpinning our future growth opportunities." The high-quality order book, which was multiple times over-subscribed, and competitive pricing underscore the continued strong investor demand for Landsec credit.

This move is expected to bolster Landsec's financial position, providing the company with increased flexibility and capacity for future growth opportunities. The successful issuance and strong investor demand reflect confidence in Landsec's credit and financial stability.