Tritax Big Box REIT plc Financing of B&Q Regional Distribution Centre (9881M)

TIDMBBOX

RNS Number : 9881M

Tritax Big Box REIT plc

13 May 2015

13 May 2015

TRITAX BIG BOX REIT PLC

(the "Company")

FINANCING OF THE B&Q CORE PRODUCTS REGIONAL DISTRIBUTION CENTRE AT WORKSOP, NOTTINGHAMSHIRE

Further to the announcement on 29 April 2015 that the Company had acquired the B&Q Regional Distribution Centre at Worksop, Nottinghamshire, the Board of Tritax Big Box REIT plc (ticker: BBOX) is pleased to announce that the Company has drawn on senior debt financing secured on the asset. This facility has been agreed with Barclays Bank PLC to the value of GBP40.38 million, reflecting a loan to value ratio of 45% at the asset level.

The debt financing for the distribution centre is for a term of five years, with an option to extend the term of the loan by up to one further year, exercisable prior to the end of year one, resulting in a maximum term of six years.

Post drawdown the blended margin payable across the Company's financings is approximately 1.77% above three month LIBOR and the loan to value ratio across all assets stands at approximately 33%.

For further information, please contact:

 
  Tritax Group               via Newgate (below) 
    Colin Godfrey (Partner, 
    Fund Manager) 
 
   Newgate (PR Adviser)       Tel: [phone] 
    James Benjamin             Email: [e-mail] 
    Andre Hamlyn 
    Lois Engstrand 
 
   Jefferies International    Tel: [phone] 
    Limited 
    Gary Gould 
    Stuart Klein 
    Alex Collins 
 
   Akur Limited               Tel: [phone] 
    Anthony Richardson 
    Tom Frost 
    Siobhan Sergeant 
 

NOTES:

Tritax Big Box REIT plc is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"). The Company invests in and asset manages a portfolio of well-located, modern "Big Box" assets, typically targeting buildings greater than 500,000 sq. ft., let to institutional-grade tenants on long-term leases (typically between 12 and 25 years in length) with upward-only rent reviews (providing the potential for inflation linked earnings growth), and with 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 in high growth areas of the economy and limited stock supply. The Company is the first listed vehicle to give pure exposure to the "Big Box" asset class in the UK.

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

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