SEGRO has launched a new 10-year, €500m (£427m) green bond.
The senior unsecured green bond issue was eight times oversubscribed.
The bonds were priced at 55 basis points above euro mid-swaps and have an annual coupon of 0.5%.
It is SEGRO’s first bond in the euro market and its first green bond, following from the green bond issued by SEGRO European Logistics Partnership in May.
The proceeds will be used to finance or refinance eligible green projects, as outlined in the SEGRO Green Finance Framework, including its continued development programme. It will also be tapped to provide funding for general corporate purposes.
SEGRO CFO Soumen Das said: “The level of oversubscription we received for the issuance underlines investors’ recognition of the strength of our business and the importance they rightly place on sustainable investment.”
He added that the funds would go towards “the construction of new properties with high sustainability credentials through our very active development programme”.
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