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    SGRO   GB00B5ZN1N88

SEGRO PLC

(SGRO)
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Delayed London Stock Exchange  -  11:35 2022-08-11 am EDT
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SEGRO : Inside Information / Other news releases

03/17/2022 | 03:11am EDT

PRESS RELEASE

17 March 2022

SEGRO PRICES €1.15 BILLION OF GREEN BONDS

SEGRO plc ('SEGRO') announces the launch and pricing of its debut issuance from its recently announced European Medium-Term Note ('EMTN') programme. The €1.15 billion senior unsecured Green Bond issue is split into two tranches:

  • €650 million with a four-year term, priced at 70 basis points above euro mid-swaps with an annual coupon of 1.250 per cent; and
  • €500 million with an eight-year term priced at 110 basis points above euro mid-swaps with an annual coupon of 1.875 per cent.

The bond issuance was six times oversubscribed.

The proceeds of the issue will principally be used to finance and/or refinance 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.

Soumen Das, SEGRO Chief Financial Officer, commented:

"We appreciate the strong support that we have received for the first bond under our new EMTN programme with the coupons in line with our low 1.5 per cent average cost of debt. The fundamental trends underpinning the occupier market remain strong, creating attractive and profitable investment opportunities for our business. The proceeds of this issuance will enable us to continue to respond to our customers' increased requirements for modern space built to the highest levels of sustainability standards."

ENDS

For further information, please contact:

Harry Stokes (Commercial Finance Director)

+44 (0) 20 7451 9124 / harry.stokes@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 9.6 million square metres of space (103 million square feet) valued at £21.3 billion 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 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.

See www.SEGRO.com for further information.

Disclaimer

SEGRO plc published this content on 17 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2022 08:10:03 UTC.


© Publicnow 2022
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Sales 2022 529 M 646 M 646 M
Net income 2022 2 734 M 3 339 M 3 339 M
Net Debt 2022 4 151 M 5 070 M 5 070 M
P/E ratio 2022 5,19x
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Nbr of Employees 385
Free-Float 99,6%
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Number of Analysts 20
Last Close Price 1 066,00 GBX
Average target price 1 313,63 GBX
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Managers and Directors
David John Rivers Sleath Chief Executive Officer & Executive Director
Soumen Das Chief Financial Officer & Executive Director
Andrew Harrison Chairman
James Power Director-Digital & Technology
Andrew E. G. Gulliford Chief Operating Officer & Executive Director
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