Sirius Real Estate, the operator of Germany and the UK’s booming branded business and industrial parks, has issued a further €105m (R2.14bn) of notes — its second tap of a €359.9m bond due in November 2028.
The latest capital raise, executed directly with HSBC Continental Europe, will be consolidated into the existing 1.75% 2028 bond first issued in November 2021. It follows a €59.9m tap earlier this year and comes on the heels of a €350m bond issued in January.
“This latest bond tap underscores confidence in our strategy, platform and portfolio. The €105m proceeds enhance our capacity to pursue accretive growth, while maintaining disciplined leverage,” said Sirius CFO Chris Bowman.
Sirius has completed approximately €300m in acquisitions in 2025 to date, including the £101.1m acquisition of the Hartlebury Trading Estate, a significant addition to its UK-focused BizSpace platform.
The group said that with capital now secured, it is expected to press ahead with further expansion into Europe’s two largest economies.
"Proceeds will be channelled into new acquisition opportunities in Germany and the UK, , while preserving its net loan-to-value ratio below the long-standing 40% ceiling," it said.
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