Hyprop Investments, the JSE and A2X-listed retail-focused Real Estate Investment Trust, announced a successful bond issuance on Friday, raising R580 million in an oversubscribed auction. The group initially targeted R500m, with an option to increase it to R600m. The auction attracted “overwhelming investor interest,” and total bids reached R3,1 billion, more than five times the targeted amount, the company said in a statement.
“The outcome highlights strong investor demand, reinforcing Hyprop’s position in the capital markets,” said Hyprop’s CFO, Brett Till.
Final price guidance was set at 100–110 basis points (bps) for 3 years and 115–125 bps for 5 years. Hyprop accepted bids at record-low margins of 94 bps for 3 years, totalling R273m, and 111 bps for 5 years, totalling R307m. These were the lowest margins achieved by the…