Tritax Big Box REIT plc New Fixed Rate Term Loan Facility (1446G)
August 03 2016 - 7:20AM
UK Regulatory
TIDMBBOX
RNS Number : 1446G
Tritax Big Box REIT plc
03 August 2016
3 August 2016
TRITAX BIG BOX REIT PLC
(the "Company" or "Group")
NEW FIXED RATE TERM LOAN FACILITY OF GBP72 MILLION
The Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased
to announce that the Company has agreed a new long-term, interest
only, fixed rate term loan facility of GBP72 million with Canada
Life Investments (the "Facility"), secured against a portfolio of
three standing assets.
The Facility, which will be drawn in full immediately, is
repayable on 30 April 2029 and has a fixed all-in rate payable of
2.64% per annum. The amounts drawn down under the Facility will be
segregated and non-recourse to the Company.
The Facility extends the Group's weighted average unexpired loan
term from 4.4 years to 5.3 years and increases the Group's loan to
value ("LTV") ratio to approximately 33%.
Colin Godfrey, Partner of Tritax, commented:
"'This Facility provides attractive, long-term, fixed rate debt
financing and we are delighted to welcome Canada Life as a new
lender to the Group. The Board continues to seek to optimise the
capital structure of the Company to ensure both longer and shorter
term facilities can be employed as appropriate to underpin our
dividend and support our growth plans."
For further information, please contact:
Tritax Group via Newgate (below)
Colin Godfrey (Partner,
Fund Manager)
Newgate (PR Adviser) Tel: 020 7680 6550
James Benjamin Email: tritax@newgatecomms.com
Alex Shilov
Lydia Thompson
Jefferies International Tel: 020 7029 8000
Limited
Gary Gould
Stuart Klein
Akur Limited Tel: 020 7493 3631
Anthony Richardson
Tom Frost
Siobhan Sergeant
NOTES:
Tritax Big Box REIT plc is the only listed vehicle to give pure
exposure to the "Big Box" logistics asset class in the UK and is
committed to delivering attractive and sustainable returns for
shareholders. Investing in and managing both standing and pre-let
forward funded development assets, the Company focuses on
well-located, modern "Big Box" logistics assets, typically greater
than 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 stock supply.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKNDDDBKDFFK
(END) Dow Jones Newswires
August 03, 2016 07:20 ET (11:20 GMT)
Tritax Big Box Reit (LSE:BBOX)
Historical Stock Chart
From Apr 2024 to May 2024
Tritax Big Box Reit (LSE:BBOX)
Historical Stock Chart
From May 2023 to May 2024