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Tritax Big Box REIT PLC on Tuesday said that it has signed a revolving credit facility with a syndicate of its existing relationship banks and new lenders to fund general corporate purposes. According to the London-based real-estate investment trust, the facility is worth £500 million. It has an initial five-year team, which could be extended to seven years at Tritax’s request, subject to lender consent. The facility also contains an uncommitted £200 million accordion option. Fully available for general corporate purposes, Tritax said that it would use the facility to refinance its existing £450 million revolving credit facility, which was due to mature in December 2024. It will also be used to support Tritax’s future investment and development activities, and retains the same pricing as the existing facility. ‘We are pleased to announce our new sustainability-linked revolving credit facility. This transaction is a significant milestone, following our inaugural Green Bond issue in 2021, and reinforces our intent to continue to align the company’s financing with its sustainability objectives,’ said Chief Financial Officer Frankie Whitehead. ‘The new facility further enhances our strong balance sheet and provides additional flexibility to finance our strategy. We are delighted with the continued support of our core relationship lenders as well as the participation of new lenders in the facility.’ Tritax Big Box shares were trading 1.2% higher at 140.50 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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