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SEGRO amends €780M of credit facilities


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SEGRO amends €780M of credit facilities

has agreed to amendedbank facilities totalling €780 million.

Specifically,the developer increased the size of a revolving syndicated credit facility to€610 million from €225 million, reduced its margin and commitment fee andextended its maturity to May 2021.

A€70 million revolving credit facility, meanwhile, was extended to mature on May2020, and has a reduced margin and commitment fee.

Thecompany also agreed to reduce the size of its €140 million facility to €100million, reduce its commitment fee, bring the margin in line with otherfacilities and extend its maturity to July 2019.

Subsequently,the group cancelled a €235 million bank facility that was due to mature in May2018.

Withthe amendments, the unsecured committed bank facilities available to the groupwent up by €110 million and the weighted average maturity of the facilitiesincreased to 57 months from 25 months.

Thefacilities were put in place by Barclays Bank, Bank of China, BNP Paribas, Bankof America Merrill Lynch, HSBC Bank plc, Lloyds Bank, KBC Bank, the Royal Bankof Scotland, Santander and Wells Fargo.

Therefinancing was self-arranged by SEGRO. The Royal Bank of Scotland acted as documentationcoordinator and HSBC Bank has been appointed agent for the €610 millionfacility.