SEGRO has raised €225m (£194m) from its fourth private placement with US institutional investors.
The company has issued 15 and 20-year senior unsecured notes and expects to draw down both tranches in September for general corporate purposes.
The 15-year, €50m notes carry a fixed coupon of 3.87%, while the €175m, 20-year tranche priced at 4.14%. The deal takes SEGRO’s average debt maturity to 8.6 years.
Soumen Das, chief financial officer at SEGRO, said: “The support we have received from our existing investors for our fourth US private placement debt issue is a further endorsement of the strategy we are pursuing at SEGRO, reflected particularly in the long duration of the new notes.
“It will have a marginal impact on the average cost of debt, while increasing the percentage of debt which is at fixed rates at a time of interest rate volatility.”
To send feedback, e-mail akanksha.soni@eg.co.uk or tweet @EGPropertyNews
