Tritax Big Box secures €467m revolving credit facility

Tritax Big Box REIT has announced a new £400 mln (€467 mln) revolving credit facility (RCF) to refinance its existing £300 mln (€350 mln) RCF.

Tritax Big Box REIT

The new facility, provided by a syndicate of banks including ABN AMRO, Bank of America, and JPMorgan Chase, has a five-year term with a two-year extension option and maintains the same margin, which could decrease with a credit rating upgrade.
Additionally, the company has refinanced £150 mln (€175 mln) of bilateral facilities with Barclays through a new term loan that matures in October 2027 and includes a sustainability-linked margin adjustment. This refinancing supports the company's ongoing strategic goals.
The company was advised on the transaction by Lazard & Co.
Frankie Whitehead, partner and CFO for Tritax Big Box REIT plc, commented: "The new £400 mln RCF will increase available liquidity and supports our ongoing ability to execute our strategy, including our attractive logistics and data center development opportunities, while maintaining an average cost of debt in line with the level we reported at FY24. We are grateful for the continued support of our banking syndicate, and the addition of three new lenders validates the quality of our investment portfolio and growth potential. Our strong balance sheet provides us with financial flexibility, while our debt maturity profile remains well diversified by both source and maturity."