Logicor Successfully Places €650 Million Notes to Support Refinancing and Growth

Logicor Successfully Places €650 Million Notes to Support Refinancing and Growth

(IN BRIEF) Logicor, a prominent player in European logistics real estate, has achieved a successful placement of €650 million in unsecured notes under its EMTN program. These notes, with a 4.5-year term and a 4.625% coupon, hold a BBB rating from S&P Global Ratings. The proceeds from this issuance will be directed towards general corporate purposes, including the refinancing of existing debt. Logicor’s return to the capital markets, after a two-year hiatus, saw the notes nearly four times oversubscribed, highlighting strong investor confidence in the company’s operational performance and debt strategy, which reinforces its growth in high conviction markets.

(PRESS RELEASE) LONDON, 22-Jan-2024 — /EuropaWire/ — Logicor, a leading owner, manager and developer of European logistics real estate, announces the successful placing of €650 million of notes under the Group’s EMTN programme.

The unsecured notes have a term of 4.5 years and a coupon of 4.625%. The notes are rated BBB by S&P Global Ratings.

Proceeds from the notes will be used for general corporate purposes including the refinancing of existing debt.

Continuing to grow our market presence in high conviction markets is underpinned by our capital structure.

“Therefore, we are very pleased to return to the capital markets after a two-year break with a successful and sensibly priced issuance, which supports our refinancing plans.

“The notes were nearly four times oversubscribed at closing, reflecting strong investor support for Logicor’s operational performance and debt strategy.”, Shane Kelly, Chief Financial Officer

About Logicor:

Logicor is one of the largest owners and operators of modern logistics and distribution properties in Europe. As at 30 June 2023, we own and manage a portfolio of 594 high-quality properties with a lettable area of over 20 million square meters located in key European logistics markets. Logicor is headquartered in London and Luxembourg. www.logicor.eu.

Media Contact:

Director of Comms and Marketing
Lizzie Beuzeval
beuzeval@logicor.eu

SOURCE: Logicor