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Segro to issue €300M senior unsecured notes in private placement

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Segro to issue €300M senior unsecured notes in private placement

Segro PLC agreed to issue €300 million of 10- and 15-year senior unsecured notes through a private placement.

The two-tranche issuance comprises a €100 million placement at a fixed coupon of 1.82% due 2028 and €200 million of 2.37% notes due 2033. The entire placement has a weighted average coupon of 2.19% and a weighted average maturity of 13.3 years, and the notes will rank pari passu with the company's existing unsecured bank and bond debt.

Proceeds from the placement will be used for general corporate purposes.

Santander Investment Securities Inc., Wells Fargo Securities LLC and Lloyds Securities Inc. are serving as the joint placement agents.