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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.