Tritax Big Box REIT has added a £250m senior, short-term, unsecured facility with a syndicate of relationship banks comprising Barclays Bank, Royal Bank of Scotland and Santander to its books.
The new facility, which is for a term of 12 months with an option to extend by a further six months, will provide the company with committed capital, at an attractive margin, to assist in the acquisition of “investment opportunities in its strong investment pipeline”.
It comes days after Tritax exchanged contracts to forward-fund a £68.7m warehouse development prelet to Amazon in Merseyside.
Frankie Whitehead, head of finance for Tritax, said: “This well-supported new revolving credit facility gives the company additional financing to commit to our near-term pipeline and support for growth. It provides access to further flexible liquidity at a low cost of borrowing.
“The continued backing from our relationship banks demonstrates the strength of support for our strategy and the strong fundamentals for our sector.”
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