SEGRO Plc agreed to buy back all of the notes due 2021, 2022, 2024 and 2019 tendered for repurchase, reflecting £549.5 million in aggregate principal amount of notes.
The 6.750% notes due 2021 were priced at 122.204%, reflecting a 1.205% purchase yield and a purchase spread of 60 basis points. Meanwhile, the notes due 2022 offer a 1.254% yield and spread of 60 basis points at a price of 124.657%; the notes due 2024 offer a 1.673% yield and spread of 67 basis points at 130.538% price; and the notes due 2019 provide a 0.955% yield and a 55-basis-point spread at a price of 109.820%.
The company will not accept for purchase any of the tendered 5.625% notes due 2020.
The tender offers are slated for settlement Oct. 11, subject to the satisfaction of the new notes issuance condition.