SLOUGH (dpa-AFX) - Segro Plc (SGRO.L) announced the pricing of a 500 million euros senior unsecured bond issue for an eight-year term priced at 123 basis points above euro mid-swaps with an annual coupon of 3.5 per cent.
The bond issuance was over six times subscribed at peak.
The company stated that it will primarily use the proceeds from the issuance to refinance existing indebtedness, particularly focusing on bank loans maturing in early 2026.
As a result, the average cost of debt (including joint venture debt at share) falls to 2.6 per cent (from 2.7 per cent at 30 June 2024) and the average duration increases to 7.3 years (from 6.8 years at 30 June 2024).
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