Tritax Big Box REIT has entered into a new £200m unsecured revolving credit facility with its 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 syndicate comprises Banco Santander, Barclays Bank, BNP Paribas, the Royal Bank of Scotland, Wells Fargo Bank and HSBC UK Bank.
Barclays will act as agent for the new facility.
Frankie Whitehead, finance director at Tritax, 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 prelet 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.”
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