The Board of Tritax Big Box REIT plc has announced that it has agreed a new long-term, interest only, fixed rate term loan facility of GBP72 million with Canada Life Investments, secured against a portfolio of three standing assets.
The Facility, which will be drawn in full immediately, is repayable on 30 April 2029 and has a fixed all-in rate payable of 2.64% per annum. The amounts drawn down under the Facility will be segregated and non-recourse to the company.
The Facility extends the Group’s weighted average unexpired loan term from 4.4 years to 5.3 years and increases the Group’s loan to value (“LTV”) ratio to approximately 33%.
BBOX : Tritax agrees new debt facility