SELP joint venture prices €750 million 3.75 per cent unsecured green bond issue
SEGRO plc (‘SEGRO’), in its role as venture adviser to the SEGRO European Logistics Partnership (‘SELP’) joint venture, announces the pricing of a 5 year, €750 million senior unsecured Green bond issue for SELP.
The order book at peak totalled approximately €2.5 billion and the bonds were priced at 245 basis points above euro mid-swaps, equating to an annual coupon of 3.75 per cent.
The proceeds of the issue will principally be used to refinance the existing (non-green) €500 million bond expiring in 2023, which are subject to an ongoing tender offer. In due course, they will be allocated to financing and/or refinancing Eligible Green Projects as outlined in the SEGRO Green Finance Framework, including the continued development programme, as well as providing funding for general corporate purposes.
About SEGRO European Logistics Partnership S.à r.l. (SELP):
SELP is a joint venture in which SEGRO owns a 50 per cent interest. It was established in October 2013 and owns €7.6 billion of big box warehouses and development land across seven Continental European countries. SEGRO acts as asset, property and development manager for SELP.
For further information see www.SELP.lu.