SEGRO Arranges Private Placement Of €450 Mln Senior Unsecured Notes

(RTTNews) - SEGRO plc (SGRO.L) said that it has arranged a private placement of 450 million euros 12, 15 and 20 year senior unsecured notes with a group of institutional investors.

The issue consists of three tranches: 150 million euros at a fixed coupon of 1.35 per cent due 2032, 50 million euros at a fixed coupon of 1.45 per cent due 2035 and 250 million euros at a fixed coupon of 1.83 per cent due 2040. This translates to a weighted average coupon of 1.63 per cent and a weighted average maturity of 16.8 years.

In addition, SEGRO has today given notice to holders of the 6.75 per cent Sterling bonds due 2021 and the 7.0 per cent Sterling bonds due 2022 that it plans to redeem in full the outstanding amounts. The combined nominal value of the Bonds was 118 million pounds, and they will be redeemed for £131 million during August and September.

The company said it will use the net proceeds from the new US Private Placement issue, after redeeming the Bonds, for general corporate purposes and the Notes will rank pari passu with SEGRO's existing unsecured bank, bond and US Private Placement debt.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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