SEGRO announces new €1.6 billion 5-year revolving credit facility
SEGRO announces that it has signed a new €1.6 billion Revolving Credit Facility (RCF) with its syndicate of eight relationship banks.
The senior unsecured facility has an initial five-year term and may be further extended to a maximum of seven years, subject to lender approval. The new facility replaces the existing €1.0 billion and €0.6 billion syndicated RCFs, which were due to mature in 2027. SEGRO also has a further €0.2 billion of bilateral RCFs due to mature in 2028 which are not affected by this transaction.
The eight banks participating in this facility are Bank of China, Barclays, BNP Paribas, Lloyds, NatWest, Santander, SMBC and Wells Fargo. SEGRO was advised by NatWest who acted as sole coordinator on the transaction.
Soumen Das, Chief Financial Officer of SEGRO, said:
“The support we have received by all of our existing relationship banks in extending the maturity of our core bank facilities on improved terms, underlines the continued confidence they have in the quality of our irreplaceable portfolio and our consistent strategy.
“The committed liquidity provided by this facility underpins the significant financial firepower that we have to fund future growth, particularly through the build out of our industrial, logistics and data centre development pipeline.”
About SEGRO
SEGRO is a UK Real Estate Investment Trust (REIT), 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 10.3 million square metres of space (111 million square feet) valued at £20.3 billion at 31 December 2024 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.
For over 100 years SEGRO has been creating the space that enables extraordinary things to happen. From modern big box warehouses, used primarily for regional, national and international distribution hubs, to urban warehousing (including data centres) located close to major population centres and business districts, it provides high-quality assets that allow its customers to thrive.
A commitment to be a force for societal and environmental good is integral to SEGRO’s purpose and strategy. Its Responsible SEGRO framework focuses on three long-term priorities where the company believes it can make the greatest impact: Championing Low-Carbon Growth, Investing in Local Communities and Environments and Nurturing Talent.
Striving for the highest standards of innovation, sustainable business practices and enabling economic and societal prosperity underpins SEGRO’s ambition to be the best property company.
See www.SEGRO.com for further information.