SEGRO launches £750m bond and announces new issue

SEGRO has completed the launch and pricing of £750m of bonds and bought back sterling bonds across four tranches equal to £550m at a cash cost of £677m.

SEGRO has also launched and priced a £350m bond with a maturity of 12 years paying a coupon of 2.375% and a £400m bond with a maturity of 20 years paying a coupon of 2.875%.

The weighted average maturity of debt increases by three years to 10.8 years and the firm will benefit from a £10m saving from reduced interest costs. The loan-to-value will increase by 1% to 30%.