SEGRO has secured €300m (£270m) of debt from a group of US institutional investors in a placement of 10- and 15-year senior unsecured notes.
The placement comprises a €100m tranche at a fixed coupon of 1.82% due in 2028 and a €200m tranche at a fixed coupon of 2.37% due in 2033.
SEGRO said it would use the proceeds for “general corporate purposes”.
The firm last week announced the redemption of its remaining £102m of bonds due in 2019. The redemption and the new debt will extend the firm’s average debt maturity to 11.6 years and reduce its average cost of gross debt to 1.9%
Soumen Das, chief financial officer at SEGRO, said: “The support we have received from our existing and new investors for our second US private placement debt issue is a further endorsement of the strategy we are pursuing at SEGRO.
“It will increase SEGRO’s weighted average debt maturity and will further improve the natural currency hedge for our euro-denominated assets.”
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