Tritax Big Box REIT has entered into a new €224.4m (£200m) unsecured revolving credit facility with a syndicate of its relationship lenders. The new facility has an initial maturity of five years and can be extended by two further years to a maximum maturity of seven years. It also contains an uncommitted €112.2m (£100m) accordion option and will support the company's future investment and development activities and has an opening margin of 1.10% per annum over LIBOR.
The syndicate for the new facility comprises Banco Santander, Barclays Bank, BNP Paribas, The Royal Bank of Scotland International, Wells Fargo Bank, and HSBC UK Bank.
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."
