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€125m incremental increase in bank facility

Tritax EuroBox plc is pleased to announce it has agreed a €125 million increase to its existing €300 million unsecured revolving credit facility.

30 Sep 2019

Bank of China has agreed to provide a new €100 million commitment to the enlarged facility and Banco Sabadell has agreed to provide a new €25 million commitment, alongside existing lenders Bank of America Merrill Lynch, HSBC and BNP Paribas.

This increase is on the same terms as the existing facility, with an opening margin of 1.55% and a maturity date of October 2023 which can be extended, subject to lender support, by two further years. €235.5m million of the facility is currently drawn.

The loan to value ratio of the Company's portfolio is now approximately 36% against a medium-term LTV target of 45%.

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

Mehdi Bourassi, Finance Director for Tritax EuroBox plc, commented: "We are delighted that Bank of China and Banco Sabadell have joined our existing banking syndicate in supporting us through the next phase of our financing strategy. The increased commitment will provide additional flexible liquidity to pursue investment opportunities in our pipeline and grow our portfolio in line with the Company's investment strategy. This incremental increase in our bank facility and these two additions to our relationship lender group underline the strength of support for the Company and our growth strategy as well as the robust fundamentals of the Continental European logistics real estate sector."

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Press Release €125 MILLION INCREMENTAL INCREASE IN BANK FACILITY
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