Land Securities today announces the signing of a €1.12 billion Euro Commercial Paper Programme (the "Programme"). Land Securities PLC is the commercial paper issuing vehicle for the Group's secured funding structure, which was established in November 2004. Paper issued under the Programme will be fully supported by existing secured bank facilities.
Both Fitch Ratings Limited and Standard & Poor's Rating Services have rated the Programme F1 and A-1 respectively. Proceeds from the programme will be used to meet short term funding requirements.
Citigroup are the Arranger of the Programme with Barclays Capital, Citigroup and Royal Bank of Scotland acting as Dealers. HSBC have been appointed as the Issuing & Paying Agent.
Source: Land Securities