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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Segro PLC REIT (PK) | USOTC:SEGXF | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.14 | 10.96 | 11.72 | 0.00 | 16:26:06 |
Segro PLC (SGRO.LN), a provider of property development and investment services, and Aviva Investors, said Friday they have successfully completed refinancing of the Airport Property Partnership portfolio.
MAIN FACTS:
-The partnership has agreed to a five year refinancing package to replace maturing debt facilities with HSBC, RBS, Barclays and Lloyds which were due to expire in March 2012.
-The refinancing package of GBP400 million senior debt, with GBP320 million drawn, was provided by a banking consortium, consisting of HSBC, Barclays Corporate, Royal Bank of Scotland, BNP Paribas, Credit Agricole CIB and Santander.
-The LTV ratio of the fund is 46% and an all in fixed funding rate on drawn debt of circa 4%.
-The Airport Property Partnership portfolio or APP is a joint venture formed between Segro and Aviva Investors in June 2010 and forms part of the GBP1 billion portfolio which Segro manages at Heathrow.
-Segro is the asset manager to the fund while Aviva Investors is the fund manager.
-The joint venture includes 23 direct property assets, 4 development sites and 3 indirect investments with 81% located at London Heathrow Airport.
-Segro shares at 1200 GMT down 3 pence, or 1.1%, at 256 pence, valuing the company at GBP1.89 billion.
-By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; razak.baba@dowjones.com
1 Year Segro PLC REIT (PK) Chart |
1 Month Segro PLC REIT (PK) Chart |
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