Tritax EuroBox plc (LON:EBOX), which invests in high-quality, prime logistics real estate strategically located across continental Europe, has announced that it has signed an agreement with institutional investors for a new private placement of €200 million senior unsecured notes. The Notes comprise three tranches with a weighted average coupon of 1.368 per cent., and a weighted average maturity of nine years.
The Notes purchase agreement was signed on 1 December 2021 and the funds will be drawn in mid-January 2022, subject to customary closing conditions.
The three tranches comprise:
· €100 million at a fixed coupon of 1.216 per cent., with 7-year maturity;
· €50 million at a fixed coupon of 1.449 per cent., with 10-year maturity; and
· €50 million at a fixed coupon of 1.590 per cent., with 12-year maturity.
The proceeds will provide the Company with additional committed capital to assist in the acquisition of further potential near-term investment opportunities and will be deployed in conjunction with the €250 million of new equity raised by the Company in September 2021.
The Company was advised on the financing by Lazard & Co., Limited.
Mehdi Bourassi, Finance Director for Tritax EuroBox, commented:
“We are pleased with the backing that this issue received from new institutional debt investors as part of our debut unsecured Private Placement. The placement supports our growth strategy, further diversifies our funding by providing access to a new source of liquidity at an attractive fixed cost and increases the weighted average maturity of our debt.”