By Mary-Katherine Stinson
Lexington, Ky., Aug. 3 – Segro plc as venture advisor has priced a €750 million senior unsecured green bond issue for the Segro European Logistics Partnership (SELP) joint venture, according to a press release.
The bond has a five-year tenor and priced at 245 basis points over euro mid-swaps.
This equates to a coupon of 3.75%.
The order book at peak totaled about €2.5 billion.
Proceeds from the issue will initially be used to refinance existing non-green €500 million bonds expiring in 2023, which are subject to an ongoing tender offer. Segro stated that in due course the proceeds will be allocated to financing and/or refinancing eligible green projects as outlined in its green finance framework, including the continued development program, as well as providing funding for general corporate purposes.
Segro is a London-based real estate investment trust.
| Issuer: | Segro plc (for Segro European Logistics Partnership)
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| Amount: | €750 million
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| Issue: | Green bond
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| Tenor: | Five years
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| Coupon: | 3.75%
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| Spread: | Euro mid-swaps plus 245 bps
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