Such resources will refinance two lines maturing in 2027. At the end of 2024, the value of Segro’s industrial and logistic assets amounted to 20.3 billion, 1.3 billion in Italy
London and Paris Euronext-listed UK Real Estate Investment Trust (REIT) Segro, an owner, manager and developer of industrial and logistic assets, attracted a syndicated revolving credit line of 1.6 billion euros from Bank of China, Barclays, BNP Paribas, Lloyds, Wells Fargo , Santander, SMBC, and NatWest which also assisted the borrower and acted as sole coordinator of the deal (press release). The firm also signed a separated deal for 200 million worth bilateral revolving lines maturing in 2028.
Such a senior unsecured credit line has a five-year tenure that can extend to to seven years upon the lenders’ approval. Such a facility will replace the syndicated revolving lines worth a total of 1.6 billion maturing in 2027 that Segro previously borrowed.
Soumen Das, Segro’s cfo, said: “The support that we received from all our existing relationship banks in extending the maturity of our core banking facilities on improved terms underlines the continued confidence they have in the quality of our irreplaceable portfolio and our consistent strategy. The committed liquidity that this credit line provided supports the significant financial strength we have to fund future growth, particularly through the construction of our industrial, logistics and data centre development pipeline.”
The value of 10.3 million sqms assets that Segro owns or manages in the UK and Europe is of 20.3 million GBPs (1.3 billion euros in Italy) (investors presentation 2024).
Luca Sorbara is Segro’s Head of Italy since October 2024 (see here a previous post by BeBeez), while Marco Simonetti is the managing director for Continental Europe.
