Segro plc (REIT) (GB:SGRO) has released an update.
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SEGRO plc has successfully priced a €500 million bond issue with an 8-year term and a 3.5% annual coupon, significantly oversubscribed and aimed at refinancing existing debt to improve their financial metrics. The move by the UK-based real estate investment trust is set to lower their average cost of debt to 2.6% and extend the average debt maturity to 7.3 years, signalling strong investor confidence and a strategic enhancement of their balance sheet.
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