Last checked at 20 Nov 2017 15:45
20 November 2017
SELP JOINT VENTURE PRICES €500 MILLION 1.5 PER CENT UNSECURED BOND ISSUE
SEGRO plc ('SEGRO'), in its role as venture advisor to the SEGRO European Logistics Partnership ('SELP') joint venture, announces the launch and pricing of an 8 year, €500 million (£442 million) senior unsecured bond issue for SELP. The bonds were priced at 95 basis points above euro mid-swaps and have an annual coupon of 1.5 per cent.
The proceeds of the issue will principally be used to prepay existing bank borrowings, including certain secured facilities.
Exchange rate as at 20 November 2017 is €1.13 to £1.
ENDS
For further information, please contact:
SEGRO plc
Harry Stokes (Head of Investor Relations and Research)
+44 (0) 20 7451 9124 / harry.stokes@segro.com
Lizzie Humphreys (External Communications Manager)
+44 (0) 20 7451 9129 / lizzie.humphreys@segro.com
Richard Sunderland / Claire Turvey / Eve Kirmatzis (FTI Consulting)
Tel: +44 (0) 20 3727 1000
About SEGRO and SEGRO European Logistics Partnership ('SELP'):
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.3 million square metres (68 million square feet) of space valued at over £8 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 nine other European countries.
SEGRO European Logistics Partnership ('SELP') is a joint venture in which SEGRO owns a 50 per cent interest. It was established in October 2013 and owns over €2.5 billion of big box warehouses and development land across eight Continental European countries. SEGRO acts as asset, property and development manager for SELP.
For further information see www.SEGRO.com.