tiprankstipranks
SEGRO’s SELP Joint Venture Prices €500 Million Bond
Company Announcements

SEGRO’s SELP Joint Venture Prices €500 Million Bond

Story Highlights

Invest with Confidence:

Segro plc (REIT) ( (GB:SGRO) ) has provided an update.

SEGRO, acting as a venture adviser to the SEGRO European Logistics Partnership (SELP) joint venture, has announced the pricing of a €500 million senior unsecured bond issue. The bonds, carrying a 3.75% annual coupon and a seven-year term, were highly in demand, being more than eight times oversubscribed. The proceeds from this issuance will be used primarily to refinance existing debt, potentially enhancing SELP’s financial structure and market position as a leading Continental European logistics platform. This strategic financial move underscores SELP’s growth trajectory, with a portfolio valued at €6.7 billion and generating substantial annual rent from 5.8 million square meters of lettable area.

More about Segro plc (REIT)

SEGRO is a UK Real Estate Investment Trust (REIT) listed on the London Stock Exchange and Euronext Paris. It specializes in owning, managing, and developing modern warehouses and industrial properties, with a portfolio of 10.8 million square meters valued at £20.6 billion as of June 2024. SEGRO’s operations focus on locations in major cities and key transportation hubs across the UK and Europe, serving various industry sectors. The company emphasizes sustainable practices and societal contributions through its Responsible SEGRO framework.

YTD Price Performance: -4.39%

Average Trading Volume: 3,017,576

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £9.07B

For an in-depth examination of SGRO stock, go to TipRanks’ Stock Analysis page.

Related Articles
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App

Latest News Feed

More Articles