Segro joint venture SELP to refinance bank loans via senior bonds

By Marisa Wong

Morgantown, W.Va., June 13 – Segro European Logistics Partnership (SELP) announced plans to refinance existing bank borrowings using proceeds from an offering of senior bonds through SELP Finance Sarl, according to a press release.

SELP priced €500 million of 7.5-year bonds with a coupon of 1.5% at 150 basis points above euro mid-swaps.

SELP is a joint venture between Segro plc and Canadian pension fund Public Sector Pension Investment Board. Segro is a London-based real estate investment trust specializing in warehouses and light industrial properties.

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