Slaughter and May is advising SEGRO plc on its cash tender offer for certain of its existing Sterling bonds and the new issue of two Sterling bonds. SEGRO has accepted for purchase in cash an aggregate principal amount of its existing Sterling bonds across four tranches equal to £550 million, at a cash cost of £677 million. SEGRO has also launched and priced a £350 million bond with a maturity of 12 years paying a coupon of 2.375% and a £400 million bond with a maturity of 20 years paying a coupon of 2.875%.

The expected tender offer settlement date is 11 October 2017.

SEGRO is a UK Real Estate Investment Trust (REIT), and a leading owner, manager and developer of modern warehouses and light industrial property. It owns or manages 6.3 million square metres (68 million square feet) of space valued at over £8 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 nine other European countries.

Contacts

Financing: Matthew Tobin (partner), Louise Browning (associate), Charlotte Ferard (associate), George Weston (trainee)