Segro prices €750m 3.75% unsecured green bond issue

Pan-European logistics specialist Segro, in its role as venture adviser to the Segro European Logistics Partnership (SELP) joint venture, has priced a five year, €750 mln senior unsecured green bond issue for SELP. 

The order book at peak totalled approximately €2.5 bn and the bonds were priced at 245 basis points above euro mid-swaps, equating to an annual coupon of 3.75%.

According to Segro, proceeds of the issue will principally be used to refinance the existing (non-green) €500 mln bond expiring in 2023, which are subject to an ongoing tender offer.

In due course, the remaining proceeds will be allocated to financing or refinancing eligible green projects as outlined in the Segro Green Finance Framework, including the firm's continued development programme.

They will also be used to provide funding for general corporate purposes.

SELP is a joint venture in which SEGRO owns a 50% interest. It was established in October 2013 and owns €7.6 bn of big box warehouses and development land across seven Continental European countries.

Segro acts as asset, property and development manager for SELP.


Latest news

Best read stories