SEGRO assesses 1.15 billion euros in green bonds

LONDON–(BUSINESS WIRE)–Regulatory news:

SEGRO plc (“SEGRO”) announces the launch and pricing of its first issue under its recently announced European Medium Term Bond (“EMTN”) program. The €1.15 billion senior unsecured green bond issue is split into two tranches:

– €650 million with a term of four years, at a price of 70 basis points above euro mid-swaps with an annual coupon of 1.250%; and

– €500 million with an eight-year term at a price of 110 basis points above euro mid-swaps with an annual coupon of 1.875%.

The bond issue was oversubscribed six times.

Proceeds from the issuance will be used primarily to finance and/or refinance eligible green projects as set forth in the SEGRO Green Financing Framework, including the Continuing Development Program, as well as to provide financing for general corporate purposes. .

Soumen Das, CFO of SEGRO, commented:

“We appreciate the strong support we received for the first bond under our new EMTN program with coupons in line with our low average cost of debt of 1.5%. The fundamental trends underlying the occupier market remain strong, creating attractive and profitable investment opportunities for our business. Proceeds from this issue will allow us to continue to meet our customers’ increased demands for modern spaces built to the highest sustainability standards. »



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 properties. It owns or manages 9.6 million square meters of space (103 million square feet) worth £21.3 billion and serves clients from a wide range of industry sectors. Its properties are located in and around major cities and major transport hubs in the UK and seven other European countries.

For over 100 years, SEGRO has created the space that allows extraordinary things to happen. From modern, large-area warehouses, used primarily for regional, national and international distribution centers, to urban warehouses located near major population centers and business districts, it provides high-quality assets that enable 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 have the greatest impact: championing low-carbon growth, investing in local communities and environments, and cultivating talent.

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