Home » News » FTSE 250 » Tritax Big Box REIT plc New £200 million unsecured revolving credit facility
Tritax Big Box REIT

Tritax Big Box REIT plc New £200 million unsecured revolving credit facility

Tritax Big Box REIT plc (LON: BBOX) has today announced that the Company has entered into a new £200 million unsecured revolving credit facility with a syndicate of its relationship lenders.

The New Facility has an initial maturity of five years and can be extended (subject to obtaining the consent of the lenders) by two further years to a maximum maturity of seven years. The New Facility also contains an uncommitted £100 million accordion option.

The New Facility will support the Company’s future investment and development activities and has an opening margin of 1.10 per cent. per annum over LIBOR.

The syndicate for the New Facility comprises Banco Santander, S.A., London Branch; Barclays Bank PLC; BNP Paribas, London Branch; The Royal Bank of Scotland International Limited, London Branch; Wells Fargo Bank N.A., London Branch; and HSBC UK Bank plc. Barclays Bank PLC will act as agent for the New Facility.

The Company was advised on the refinancing by Lazard & Co., Limited.

Frankie Whitehead, Finance Director for Tritax Big Box REIT plc, commented:

“This well supported New Facility provides the Company with a greater level of flexible liquidity on attractive terms which will support the Company’s growth. In particular, following the acquisition of db Symmetry in February 2019, the New Facility will provide flexibility to help the Company to commit to further land acquisitions and pre-let forward funded development activity as we begin the next phase of our growth trajectory.

The continued backing from our core relationship lender group underlines the strength of support for the Company and our future growth strategy as well as the robust fundamentals of the Big Box logistics real estate sector.”

Join us on our new LinkedIn page

Follow us on LinkedIn