SEGRO has secured a new €1.6bn revolving credit facility (RCF) with a 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 eight banks participating in the facility are Bank of China, Barclays, BNP Paribas, Lloyds, NatWest, Santander, SMBC and Wells Fargo.
The new facility replaces the existing €1.0bn and €0.6 bn syndicated RCFs, which were due to mature in 2027. SEGRO also has a further €0.2 bn of bilateral RCFs due to mature in 2028, which are not affected by this transaction.
Soumen Das (pictured), 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.”
SEGRO was advised by NatWest, which acted as sole coordinator on the transaction.
