Regulatory News:
SEGRO plc ('SEGRO') announces the launch and pricing of a ten year, €500 million senior unsecured Green bond issue. The bonds, which were eight times oversubscribed, were priced at 55 basis points above euro mid-swaps and have an annual coupon of 0.5 per cent.
This is SEGRO's first bond in the euro market and its first Green bond, following from the Green bond issued by SEGRO European Logistics Partnership ('SELP') in May 2021.
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 are delighted with the support for SEGRO's first Green and first euro-denominated bond issue, achieving a 0.5% coupon and 10 year maturity. The level of oversubscription we received for the issuance underlines investors' recognition of the strength of our business and the importance they rightly place on sustainable investment. The proceeds will be invested in line with our Responsible SEGRO framework including the construction of new properties with high sustainability credentials through our very active development programme."
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 8.8 million square metres of space (95 million square feet) valued at £17.1 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210915006002/en/
Contacts:
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
