Forward Funded Investment in a New Pre-Let Logistics Facility at Midlands Logistics Park, Corby for £89.3 millionRead more
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2 October 2018
Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce it has entered into a new £250 million senior, short-term, unsecured banking facility (the “NewFacility”) with a syndicate of its relationship lenders comprising Barclays Bank PLC, The Royal Bank of Scotland International Limited and Banco Santander, S.A., London Branch.
The New Facility will provide the Company with committed capital, at an attractive margin, to assist in the acquisition of investment opportunities in its strong investment pipeline. The New Facility is for a term of 12 months, with an option to extend by a further six months, at the sole option of the Company.
The Company was advised on the financing by Lazard & Co., Limited.
Frankie Whitehead, Head of Finance for Tritax Big Box REIT plc, commented:
“This well supported new revolving credit facility gives the Company additional financing to commit to our near-term pipeline and support our growth. It provides access to further flexible liquidity, at a low cost of borrowing.
The continued backing from our relationship banks demonstrates the strength of support for our strategy and the strong fundamentals of our sector.”
Colin Godfrey (Partner, Fund Manager)
via Newgate below
Newgate (PR Adviser)
Tel: 020 7680 6550
Lazard (Financial Adviser)
Tel: 020 7187 2000
Jefferies International Limited
Tel: 020 7029 8000
Tel: 020 7493 3631
The Company’s LEI is: 213800L6X88MIYPVR714
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 pre-let forward funded developments, the Company focuses on well-located, modern “Big Box” logistics assets, typically greater than 500,000 sq ft (measured by floor area, c.67% of the Company’s existing logistics facilities including forward funded developments are in excess of 500,000 sq ft), 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