18th Sep 2024 09:39
Segro PLC - London-based property investor and developer - Announces pricing of EUR500 million senior unsecured bond issue, at 123 basis points above euro mid-swaps with a 3.5% annual coupon for an eight-year term. Says issuance at peak was six times oversubscribed. Intends on using proceeds to refinance existing indebtedness, particularly bank loans maturing in early 2026. This reduces average cost of debt to 2.6% from 2.7% at June 30, 2023, and increases average duration to 7.3 years from 6.8 years. Read More
