Tritax Big Box issues £400m in unsecured loan notes
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Warehouse investor Tritax Big Box said it was placing £400m million new senior unsecured loan notes with private investors.
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The notes comprise two tranches with a weighted average coupon of the fixed rate notes equating to 2.91% and a weighted average maturity of 9.8 years. The funds will be drawn on 28 February 2019.
The two tranches comprise £250m at a fixed coupon of 2.86% maturing in February 2028 and £150m at a fixed coupon of 2.98% maturing in February 2030.
The proceeds will be used to refinance existing commitments under the £250m 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 Tritax said.