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Sirius Real Estate, the property company investing in large German business parks, has announced that it is considering issuing senior unsecured bonds in an effort to transition to a funding structure that balances secured and unsecured debt.
The bond issuance would result in the refinancing of secured debt and funding of potential new assets.
Sirius recently received a BBB rating from American credit rating agency Fitch.
Sirius cfo, Alistair Marks, commented: A move towards more unsecured debt funding would have many benefits for Sirius including increasing operational flexibility through the creation of a much larger pool of unencumbered assets as well as enhancing our funding efficiency going forward. Sirius invests in business parks that provide conventional and flexible workspace in Germany, with the aim of empowering small and medium-sized businesses to grow.