September 17, 2024 08:00 GMT
CREDIT SUPPLY: Segro (SGROLN: A-): New 8yr FV
CREDIT SUPPLY
- FV: We see ms+125
- IPT: EUR 500m 8yr +155-160
- Rating: A- Fitch
- Investor presentation: https://www.dealroadshow.com with entry code SEGRO2024
- Comps: SGROLN, SEGPLP, PRIFII, WPC
- SGROLN 0.5 31 is trading around z+111 but with a very low cash price of 82.33
- If this were a current coupon bond, it would be trading more like z+120
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