Segro said it had priced €500m of senior unsecured bond issue for an eight-year term at 123 basis points above euro mid-swaps with an annual coupon of 3.5%.
Source: Sharecast
The proceeds will mainly be used to refinance existing debt, with a focus on bank loans maturing in early 2026. As a result, the average cost of debt (including joint venture debt at share) falls to 2.6% from 2.7% at 30 June 2024 and the average duration increases to 7.3 years from 6.8 years at 30 June, Segro said on Wednesday.
The issuance was more than six times subscribed at peak.
Reporting by Frank Prenesti for Sharecast.com
If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.