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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Segro Plc | LSE:SGRO | London | Ordinary Share | GB00B5ZN1N88 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -5.60 | -0.66% | 843.40 | 843.20 | 843.80 | 853.60 | 835.80 | 847.40 | 4,592,932 | 16:35:16 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Real Estate Agents & Mgrs | 749M | -253M | -0.2084 | -40.46 | 10.24B |
From Apr 2019 to Apr 2024
TIDMSGRO
RNS Number : 3649K
SEGRO PLC
06 July 2017
6 July 2017
EUR650 MILLION US PRIVATE PLACEMENT DEBT ISSUE
SEGRO plc ("SEGRO" or "the Company") has signed an agreement with 13 US institutional investors for a private placement of EUR650 million 10 year, 12 year and 15 year senior unsecured notes.
The issue consists of three tranches: EUR400 million at a fixed coupon of 1.77 per cent due 2027, EUR150 million at a fixed coupon of 2.00 per cent due 2029, and EUR100 million at a fixed coupon of 2.27 per cent due 2032. This translates to a weighted average coupon of 1.90 per cent and a weighted average maturity of 11.2 years.
The proceeds will be used to refinance the 2018 sterling bonds and secured debt within the Airport Property Partnership. Closing and funding of the transaction will occur in August 2017. The new issue will rank pari passu with SEGRO's existing unsecured bank and bond debt.
Soumen Das, Chief Financial Officer of SEGRO, commented: "The support we have received from our investors for our inaugural, and well over-subscribed, US private placement debt issue is a further endorsement of the strategy we are pursuing at SEGRO. It will increase SEGRO's weighted average debt maturity to 8 years and, once drawn, will improve the Company's overall cost of debt. In addition, it broadens the range of SEGRO's debt providers and creates a greater natural currency hedge for our euro-denominated assets."
Lloyds Securities Inc and Barclays Bank PLC acted as Joint Placement Agents.
ENDS
For further information, please contact:
SEGRO plc
Soumen Das (Chief Financial Officer)
Tel: +44 (0) 20 7451 9110 / soumen.das@segro.com
Harry Stokes (Head of Investor Relations and Research)
Tel: +44 (0) 20 7451 9124 / harry.stokes@segro.com
Allyson Andrews (External Communications Manager)
Tel: +44 (0) 20 7451 9118 / allyson.andrews@segro.com
Richard Sunderland / Claire Turvey (FTI Consulting)
Tel: +44 (0) 20 3727 1000
Notes to Editors:
ABOUT SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.4 million square metres (69 million square feet) of space valued at GBP8 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 nine other European countries. See www.SEGRO.com for further information.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
July 06, 2017 10:07 ET (14:07 GMT)
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