SELP JV Prices €500 Million 3.75% Unsecured Bond

On January 10, 2025, SEGRO, as venture adviser to the SEGRO European Logistics Partnership (SELP), announced the pricing of a €500 million senior unsecured bond issue for SELP. The bonds, carrying a seven-year term, are priced at 138 basis points above the euro mid-swaps, resulting in an annual coupon rate of 3.75%.

The bond issue attracted significant interest, being more than eight times oversubscribed at its peak. The proceeds from the bond will predominantly be used to refinance existing debt, aligning with SELP's financial strategies.

This strategic refinancing move underlines SELP's commitment to bolstering its financial structure, enhancing its capacity to invest further in logistics assets across Europe.