SEGRO plc’s €500 Million Green Euro Bond Offering

SEGRO plc (“SEGRO”) issued (the “Issue”) €500m 0.500 per cent. Guaranteed Notes due 2031 (the “Notes”). The Notes are being issued by SEGRO Capital S.à r.l. and guaranteed by SEGRO, and are being listed on the Main Market of the London Stock Exchange. The net proceeds of the Issue will be used principally to finance and/or refinance Eligible Green Projects as outlined in the SEGRO Green Finance Framework, as well as to provide funding for general corporate purposes. This is SEGRO’s first bond in the euro market and its first green bond, following from the green bond issued by SEGRO European Logistics Partnership (‘SELP’) in May 2021.

Bank of China, BNP Paribas, Lloyds Bank Corporate Markets Wertpapierhandelsbank and NatWest Markets are acting as Joint Lead Managers in relation to the Issue. Elvinger Hoss Prussen is advising the SEGRO on matters of Luxembourg law.

The Notes are expected to be rated A by Fitch Ratings Ltd.

SEGRO is a UK Real Estate Investment Trust, listed on the London Stock Exchange and Euronext Paris, and is a leading owner, manager and developer of modern warehouses and industrial property. It owns or manages 8.8 million square metres of space valued at £17.1 billion, serving customers from a wide range of industry sectors. Its properties are located in and around major cities and at key transportation hubs in the UK and in seven other European countries.

Slaughter and May’s team included Matthew Tobin (Picture), Partner, Jennifer Nice, Associate, Helena Cameron, Trainee and James Wells, Trainee.

Involved fees earner: Jennifer Nice – Slaughter and May; Matthew Tobin – Slaughter and May;

Law Firms: Slaughter and May;

Clients: Segro;

Author: Federica Tiefenthaler