Bond Issue

RNS Number : 6535C

SEGRO PLC

17 November 2009

 



SEGRO announces the launch and pricing of £300,000,000 of bonds due 2021

SEGRO, Europe's leading provider of flexible business space, has today launched and priced an issue of £300 million of unsecured bonds (the "Bonds"). The Bonds will pay interest at the rate of 6.75 per cent. semi-annually in arrear and will mature at par on 23 November 2021. The Bonds were priced at 99.239 per cent. to yield a margin of 300 basis points over the yield of the 4.75 per cent. UK Treasury Stock due 2020 and are expected to be rated A- by Fitch.

The joint bookrunners and joint lead managers to the issue are Barclays Capital and HSBC. Commerzbank and Lloyds TSB have been appointed as co-lead managers.

The proceeds of the issue will be used for general corporate purposes.

Commenting on the issue, David Sleath, Group Finance Director, said 

"We are pleased with the strong demand for this 12 year bond which is the first unsecured sterling bond market issue by a UK real estate company since 2006. This transaction further strengthens the Group's financial position following a number of other financing initiatives undertaken earlier this year."

For further information please contact:

SEGRO	[phone]	David Sleath
Maitland	[phone]	Liz Morley
		Tom Roberts

PRESS RELEASE DISCLAIMER

This announcement does not constitute or form part of an offer to sell or the solicitation of an offer to subscribe for or otherwise acquire any securities. 

The Notes have not been and will not be registered under the U.S. Securities Act of 1933. Accordingly, these securities may not be offered, sold or delivered in the United States and this notice is not an offer of the securities. 

This press release is for information only and does not constitute an offer to sell, purchase, exchange or transfer any securities or a solicitation of any such offer. This communication is directed only at persons who (i) are outside the United Kingdom or (ii) have professional experience in matters relating to investments or (iii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc") of The Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as "relevant persons"). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.

About SEGRO

SEGRO is the leading provider of Flexible Business Space in Europe. Headquartered in the UK, SEGRO is listed on the London Stock Exchange and on Euronext in Paris. The Company is a UK Real Estate Investment Trust (REIT) with operations in ten countries, serving a diversified base of 2,300 customers operating in a wide range of sectors, representing both small and large businesses, from start-ups to global corporations. SEGRO has property assets of £5.1 billion,  6.2m sq m of built business space and a passing cash rent roll of £338m as at 30 June 2009. (Note: these metrics exclude the Group's share of joint ventures).  www.SEGRO.com

 

END

 

 

IODEASFXFDANFFE