Tritax Big Box REIT PLC

Capital/Financing Update • Dec 5, 2018

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RNS Number : 4539J

Tritax Big Box REIT plc

05 December 2018

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THIS ANNOUNCEMENT HAS BEEN DETERMINED TO CONTAIN INSIDE INFORMATION

5 December 2018

TRITAX BIG BOX REIT PLC

(the "Company")

£400 MILLION US PRIVATE PLACEMENT DEBT ISSUE

Tritax Big Box REIT plc (ticker: BBOX) announces that it has signed an agreement with a number of new institutional investors for a private placement of £400 million new senior unsecured loan notes (the "Loan Notes").  The Loan Notes comprise two tranches with a weighted average coupon of the fixed rate notes equating to 2.91 per cent. and a weighted average maturity of 9.8 years.

The Loan Notes were priced on 15 November 2018 and the loan note purchase agreement was signed on 4 December 2018. The funds will be drawn on 28 February 2019.

The two tranches comprise:

·      £250 million at a fixed coupon of 2.86 per cent. maturing in February 2028; and

·      £150 million at a fixed coupon of 2.98 per cent. maturing in February 2030.

The proceeds will be used to refinance existing commitments under the £250 million short term, unsecured banking facility announced in October 2018 and provide the Company with additional committed capital to assist in the acquisition of further potential investment opportunities.

Santander Investment Securities Inc., and NatWest Markets Plc acted as joint placement agents and Barclays Bank PLC and BNP Paribas Securities Corp. acted as passive agents on the Loan Notes.

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

Frankie Whitehead, Head of Finance for Tritax Big Box REIT plc, commented:

"We are pleased with the support that this issue received from new institutional debt investors as part of our debut unsecured US private placement. The new financing is at an attractive fixed cost of debt, further diversifies our funding by providing access to a new source of liquidity and extends the weighted average debt maturity of the Company."

For further information, please contact:

Tritax Group Colin Godfrey (Partner, Fund Manager)	via Newgate below
Newgate (PR Adviser) James Benjamin Anna Geffert	Tel: 020 7680 6550 Email: tritax@newgatecomms.com
Lazard (Financial Adviser) Ranjit Munro Vasco Litchfield Caroline Kracke	Tel: 020 7187 2000
Jefferies International Limited Gary Gould Stuart Klein	Tel: 020 7029 8000
Akur Limited Anthony Richardson Tom Frost Siobhan Sergeant	Tel: 020 7493 3631

The Company's LEI is: 213800L6X88MIYPVR714

NOTES:

Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets ("Big Boxes") in the UK and is committed to delivering attractive and sustainable returns for shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and pre-let forward funded developments, the Company focuses on well-located, modern "Big Box" logistics assets, typically greater than 500,000 sq ft (measured by floor area, c. 67% of the Company's existing logistics facilities including forward funded developments are in excess of 500,000 sq ft), let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited supply of Big Boxes.

The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk

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