SEGRO’s joint venture with Canada’s Public Sector Pension Investment Board has raised €500m (£419m) through a new bond issue.
The SEGRO European Logistics Partnership has priced the seven-year senior unsecured bond issue at 138 basis points above euro mid-swaps, equating to an annual coupon of 3.75%.
The bond issue was more than eight times covered, with the proceeds earmarked to refinance debt.
SEGRO acted as venture adviser to the joint venture on the deal.
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