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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tritax Big Box Reit Plc | LSE:BBOX | London | Ordinary Share | GB00BG49KP99 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.50 | 1.01% | 150.60 | 150.00 | 150.20 | 151.30 | 147.50 | 147.50 | 3,869,380 | 16:35:21 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Real Estate Agents & Mgrs | 222.1M | 70M | 0.0368 | 40.82 | 2.86B |
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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June 17, 2019 02:00 ET (06:00 GMT)
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