- Press Releases
March 17 (Renewables Now) - British real estate investment trust Segro Plc (LON:SGRO) is selling EUR 1.15 billion (USD 1.27bn) worth of green bonds to finance green and renewable energy projects and support its general corporate needs.
The company on Thursday priced the offering of senior unsecured bonds and announced the deal was six times oversubscribed. The placement consists of EUR 650 million of bonds with a four-year term priced at 70 basis points above euro mid-swaps, with an annual coupon of 1.125%, as well as EUR 500 million of bonds maturing in eight years. Securities in the second tranche are priced at 110 basis points above euro mid-swaps and bear an annual coupon of 1.875%
Eligible projects to be financed or refinanced under Segro’s green bond framework include on-site renewable energy generation, power purchases from certified renewable power plants, and energy efficiency initiatives. Projects related to green buildings, clean transportation and pollution prevention are also suitable.
The offering is Segro’s first sale of green bonds, the company noted.
(EUR 1.0 = USD 1.105)