LondonMetric Property has successfully priced its debut £500 million green bond issuance, split into two sterling-denominated tranches. The offering attracted strong demand, with the order book reaching roughly 3.2 times the amount issued, signalling substantial interest from institutional investors.

The issue comprises two £250 million senior unsecured green bond tranches. The first matures in four years with a 4.50% annual coupon, while the second matures in seven years with a 4.875% annual coupon. The bonds are expected to be issued around 10 December 2025 and admitted to trading on the London Stock Exchange’s International Securities Market. They are expected to be rated A- by Fitch, in line with LondonMetric’s senior unsecured rating.

Proceeds from the issuance will be allocated to environmentally focused projects and assets consistent with LondonMetric’s green financing framework, such as energy-efficient or sustainably certified properties. The transaction also supports the company’s ongoing shift toward a predominantly unsecured debt structure, enabling the refinancing of secured bank facilities, extending the average debt maturity to approximately 4.6 years, and broadening funding sources.

LondonMetric Property plc is a leading UK real estate company with a portfolio of more than £6 billion, primarily focused on income-producing commercial assets including logistics, warehousing, leisure, and convenience-led properties. Recent portfolio integration and selective acquisitions and disposals have strengthened the balance sheet and reduced reliance on secured debt, creating the foundation for benchmark capital-markets activity such as this inaugural green bond.