Sirius Real Estate Limited, the Guernsey-incorporated owner and operator of business and industrial parks in Germany and the U.K., has raised €185.1 million ($213.4 million) through taps of two existing corporate bonds, bringing each series to a total outstanding size of €500 million ($576.8 million).

The first tap adds €150 million ($173 million) to the company’s 4.000% notes due January 22, 2032. These bonds were originally issued in January 2025 and will now form a single consolidated series with €350 million ($403.7 million) already in circulation.

The second tap comprises €35.1 million ($40.5 million), which will be added to the 1.750% notes due November 24, 2028. That issuance, first launched in November 2021, will be consolidated with €464.9 million ($536.3 million) already outstanding.

Settlement for both transactions is expected on June 17, 2026. The company said the new notes were priced in line with prevailing trading levels and attracted solid investor demand across the market.

“These transactions reflect continued support from the capital markets for our strategy and portfolio,” Chief Financial Officer Chris Bowman said. “Reaching a €500 million benchmark size for both bonds should improve liquidity in the secondary market. The proceeds also give us additional flexibility to refinance debt and pursue selective growth while maintaining a disciplined approach to leverage.”

Liquidity and balance sheet flexibility

With the latest taps, Sirius said both of its public bonds now reach benchmark size, a level typically associated with deeper trading liquidity and broader investor participation. The company added that the structure of the issuance supports its broader funding strategy, which relies on a mix of secured and unsecured debt across multiple maturities.

Sirius’ portfolio growth and recent performance

Sirius Real Estate Limited operates a portfolio of branded business parks focused on flexible workspace across Germany and the U.K. The group manages assets valued at €2.97 billion ($3.23 billion), spanning more than 150 properties and serving over 11,700 tenants.

For the financial year ended March 31, 2026, the company reported revenue of €347.5 million ($400.7 million), up from €317.5 million ($366 million) a year earlier. Profit rose to €229.8 million ($264.9 million), compared with €178.2 million ($205.5 million) in the prior year.

In late May, the company completed the notarisation of a light-industrial business park acquisition in Fulda, Germany, valued at €49.8 million ($57.4 million). The purchase expands its portfolio of income-generating assets tied to long-term demand for industrial and flexible workspace across Europe.

Listed on both the London and Johannesburg stock exchanges, the company continues to focus on expanding its footprint through acquisitions and asset management within the European industrial property sector.