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Pin to quick picksSegro Regulatory News (SGRO)

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SEGRO Prices €1.15 Billion of Green Bonds

17 Mar 2022 07:00

 

SEGRO plc (‘SEGRO’) announces the launch and pricing of its debut issuance from its recently announced European Medium-Term Note (‘EMTN’) programme. The €1.15 billion senior unsecured Green Bond issue is split into two tranches:

- €650 million with a four-year term, priced at 70 basis points above euro mid-swaps with an annual coupon of 1.250 per cent; and

- €500 million with an eight-year term priced at 110 basis points above euro mid-swaps with an annual coupon of 1.875 per cent.

The bond issuance was six times oversubscribed.

The proceeds of the issue will principally be used to finance and/or refinance Eligible Green Projects as outlined in the SEGRO Green Finance Framework, including the continued development programme, as well as providing funding for general corporate purposes.

Soumen Das, SEGRO Chief Financial Officer, commented:

“We appreciate the strong support that we have received for the first bond under our new EMTN programme with the coupons in line with our low 1.5 per cent average cost of debt. The fundamental trends underpinning the occupier market remain strong, creating attractive and profitable investment opportunities for our business. The proceeds of this issuance will enable us to continue to respond to our customers’ increased requirements for modern space built to the highest levels of sustainability standards.”

ENDS

About SEGRO

SEGRO is a UK Real Estate Investment Trust (REIT), listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 9.6 million square metres of space (103 million square feet) valued at £21.3 billion serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.

For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.

A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent.

See www.SEGRO.com for further information.

For further information, please contact:

Harry Stokes (Commercial Finance Director)+44 (0) 20 7451 9124 / harry.stokes@segro.com

Gary Gaskarth (External Communications Manager)+44 (0) 20 7451 9069 / gary.gaskarth@segro.com

Richard Sunderland / Eve Kirmatzis (FTI Consulting)Tel: +44 (0) 20 3727 1000

View source version on businesswire.com: https://www.businesswire.com/news/home/20220317005115/en/

Copyright Business Wire 2022

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