Vacancy strongly increased in Q2 20. LTV surpassed the 50% mark on 30 June 2020 due to strong value destruction in H1 20. Hammerson announced a £550m cash capital increase coupled with a disposal of £270m. Its ex-post pro forma net debt should be £2.2bn, i.e. LTV of 42% on a proportionate basis. Too high?
06 Aug 2020
First recap: done. Waiting for a second one?
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First recap: done. Waiting for a second one?
Hammerson plc (HMSO:LON) | 29.7 0.4 4.4% | Mkt Cap: 1,480m
- Published:
06 Aug 2020 -
Author:
Christian Auzanneau -
Pages:
5
Vacancy strongly increased in Q2 20. LTV surpassed the 50% mark on 30 June 2020 due to strong value destruction in H1 20. Hammerson announced a £550m cash capital increase coupled with a disposal of £270m. Its ex-post pro forma net debt should be £2.2bn, i.e. LTV of 42% on a proportionate basis. Too high?