Hammerson shifts 500 million euro bond

Real estate investment trust Hammerson said it had successfully launched a five hundred million euro bond.

The bond, which matures in 2019, has an annual coupon of 2.75%, with the company saying the issue was six times oversubscribed.

Hammerson said it had available committed financing of £2.8bn following the issue.

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The proceeds will be used to fund growth in Hammerson's shopping centres, retail parks and designer outlet villages, it added.

Chief Financial Officer Timon Drakesmith said the firm had had an excellent response from our debt investors for the transaction.

"The funds from this bond issue will be put to good use in a variety of growth projects," he said.