Tritax EuroBox PLC Debt Facility Increase (6619K)

TIDMEBOX TIDMBOXE

RNS Number : 6619K

Tritax EuroBox PLC

17 December 2018

17 December 2018

TRITAX EUROBOX PLC

(the "Company")

EUR100 MILLION INCREMENTAL BANK FACILITIES

The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE (Euro)), which invests in Continental European logistics assets, is pleased to announce it has agreed a EUR100 million increase to its existing EUR200 million unsecured revolving credit facility, which was announced on 22 October 2018. This increase is on the same terms as the existing facility.

Bank of America Merrill Lynch has agreed to provide a new EUR100 million commitment alongside existing lenders HSBC and BNP Paribas.

The Company was advised on the financing by Lazard & Co., Limited.

Nick Preston, Fund Manager for Tritax EuroBox plc, commented:

"We are delighted that Bank of America Merrill Lynch has supported us in this transaction. The new commitment will provide additional flexible liquidity to pursue investment opportunities in our pipeline."

For further information, please contact:

 
 Tritax Group                        via Newgate below 
  Nick Preston 
  James Dunlop 
  Ben Freeman 
 
 Lazard (Financial Adviser) 
  Ranjit Munro 
  Vasco Litchfield 
  Caroline Kracke                    [phone] 
 
 Jefferies International Limited 
  Gary Gould 
  Stuart Klein                       [phone] 
 Kempen & Co N.V. 
  Dick Boer 
  Thomas ten Hoedt                   [phone] 
 Newgate (Communications Adviser)    [phone] 
  James Benjamin                      [e-mail] 
 

The Company's LEI is: 213800HK59N7H979QU33

NOTES:

Tritax EuroBox plc intends to acquire and manage a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets will fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.

Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation, set against a backdrop of resurgent economic growth across much of Continental Europe.

The Company's Manager, Tritax Management LLP, has assembled a full-service European logistics asset management capability including specialist "on the ground" asset and property managers with strong market standings in the Continental European logistics sector. The appointed asset managers Logistics Capital Partners ("LCP") and Dietz AG ("Dietz") are logistics specialists and offer the Company exposure to high quality asset management expertise and access to their respective development pipelines, providing acquisition opportunities across Continental Europe.

The Company is targeting, on a fully invested and geared basis, an initial Ordinary Share dividend yield of 4.75% p.a.(1) , which is expected to increase progressively through regular indexation events inherent in underlying lease agreements, and a total return on the Ordinary Shares of 9.0% p.a.(1) over the medium-term. The Company intends to pay dividends on a quarterly basis with shareholders able to receive dividends in Sterling or Euro.

Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk

1. Euro denominated returns, by reference to IPO issue price. These are targets only and not profit forecasts. There can be no assurances that these targets will be met and they should not be taken as indications of the Company's expected or actual future results. Accordingly, potential investors should not place any reliance on these targets in deciding whether or not to invest in the Company and should decide for themselves whether the targets are reasonable or achievable.

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 [e-mail] or visit www.rns.com.

END

MSCTRBLTMBIBMTP

(END) Dow Jones Newswires

December 17, 2018 05:00 ET (10:00 GMT)