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SERGO joint venture SELP unveils pricing of £431m unsecured green bond issue
StockMarketWire.com
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Real estate investment trust SERGO plc has announced an 8 year, €500 million (£431 million) senior unsecured green bond issue for the SERGO European Logistics Partnership (SELP) joint venture.
The bonds were priced at 90 basis points above euro mid-swaps and have an annual coupon of 0.875 per cent.
SERGO acts as a venture adviser to SELP.
The proceeds of the issue will principally be used to finance and/or refinance Eligible Green Projects as outlined in the SEGRO Green Finance Framework, including the continued development programme, as well as providing funding for general corporate purposes.
SELP is a joint venture in which SEGRO owns a 50 per cent interest.
It was established in October 2013 and owns €5.3 billion (£4.57 billion) of big-box warehouses and development land across seven European countries. SEGRO acts as asset, property and development manager for SELP.
Story provided by StockMarketWire.com
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