Tritax Big Box REIT plc New £200 million RCF (4356C)
17 June 2019 - 4:00PM
UK Regulatory
TIDMBBOX
RNS Number : 4356C
Tritax Big Box REIT plc
17 June 2019
17 June 2019
TRITAX BIG BOX REIT PLC
(the "Company")
NEW GBP200 MILLION UNSECURED REVOLVING CREDIT FACILITY
The Board of Directors of Tritax Big Box REIT plc (ticker: BBOX)
is pleased to announce that the Company has entered into a new
GBP200 million unsecured revolving credit facility (the "New
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 GBP100 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."
For further information, please contact:
Tritax Group via Maitland below
Colin Godfrey (Partner, Fund Manager)
Frankie Whitehead (Finance Director)
Maitland (Communications Adviser) Tel: 020 7379 5151
James Benjamin tritax-maitland@maitland.co.uk
Jefferies International Limited Tel: 020 7029 8000
Gary Gould
Stuart Klein
Akur Limited Tel: 020 7493 3631
Anthony Richardson
Tom Frost
Siobhan Sergeant
The Company's LEI is: 213800L6X88MIYPVR714
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014.
NOTES:
Tritax Big Box REIT plc is the only listed vehicle dedicated to
investing in very large logistics warehouse assets ("Big Boxes") in
the UK and is committed to delivering attractive and sustainable
returns for shareholders. Investing in and actively managing
existing built investments, land suitable for Big Box development
and developments predominantly delivered through a pre-let forward
funded basis, the Company focuses on large, well-located, modern
"Big Box" logistics assets, let to institutional-grade tenants on
long-term leases (typically at least 12 years in length) with
upward-only rent reviews and geographic and tenant diversification
throughout the UK. The Company seeks to exploit the significant
opportunity in this sub-sector of the UK logistics market owing to
strong tenant demand and limited supply of Big Boxes.
The Company is a real estate investment trust to which Part 12
of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on
the premium segment of the Official List of the UK Financial
Conduct Authority and is a constituent of the FTSE 250, FTSE
EPRA/NAREIT and MSCI indices.
Further information on Tritax Big Box REIT is available at
www.tritaxbigbox.co.uk
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END
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