10 January
2025
SELP JOINT VENTURE PRICES
€500 MILLION 3.75 PER CENT UNSECURED BOND
SEGRO, in its role as venture
adviser to the SEGRO European Logistics Partnership ('SELP') joint
venture, announces the pricing of a €500 million senior unsecured
bond issue for SELP. The bonds have a seven year term and have been
priced at 138 basis points above euro mid-swaps, equating to an
annual coupon of 3.75 per cent.
The bond issue was more than eight
times covered at peak. Proceeds of the issuance will principally be
used to refinance existing indebtedness.
ENDS
For further information,
please contact:
Gavin Pinder (SELP Finance
Director)
+44 (0) 20 7451
9144 /
gavin.pinder@segro.com
Gary Gaskarth (External
Communications Manager)
+44 (0) 20 7451 9069 /
gary.gaskarth@segro.com
Richard Sunderland / Eve
Kirmatzis (FTI Consulting)
Tel: +44 (0) 20 3727
1000
About SEGRO
SEGRO is a UK Real Estate Investment
Trust (REIT), listed on the London Stock Exchange and Euronext
Paris, and is a leading owner, manager and developer of modern
warehouses and industrial property. It owns or manages 10.8 million
square metres of space (116 million square feet) valued at £20.6
billion as at 30 June 2024, serving customers from a wide range of
industry sectors. Its properties are located in and around major
cities and at key transportation hubs in the UK and in seven other
European countries.
For over 100 years SEGRO has been
creating the space that enables extraordinary things to happen.
From modern big box warehouses, used primarily for regional,
national and international distribution hubs, to urban warehousing
(including data centres) located close to major population centres
and business districts, it provides high-quality assets that allow
its customers to thrive.
A commitment to be a force for
societal and environmental good is integral to SEGRO's purpose and
strategy. Its Responsible SEGRO framework focuses on three
long-term priorities where the company believes it can make the
greatest impact: Championing Low-Carbon Growth, Investing in Local
Communities and Environments and Nurturing Talent.
Striving for the highest standards
of innovation, sustainable business practices and enabling economic
and societal prosperity underpins SEGRO's ambition to be the best
property company.
See www.SEGRO.com for further
information.
About
SELP
The SEGRO European Logistics
Partnership (SELP) was created in October 2013 as a 50:50 joint
venture between SEGRO and PSP Investments, the Canadian pension
fund. At its inception, the portfolio injected by SEGRO comprised
approximately €1 billion of grade A standing logistics investments
and development land. The objective of the venture was to create a
leading Continental European logistics platform, initially focused
on six geographies, namely France, Germany, Poland, Czech Republic,
Belgium and Netherlands.
Since then, SELP has also invested
in big box warehouses in Italy and Spain and a combination of
acquisitions, development and capital value growth means that, at
31 December 2023, the portfolio was valued at €6.7 billion and
generated €342 million of annualised headline rent across 5.8
million square metres of lettable area.
SEGRO acts as asset, property and
development manager for SELP.