Tritax EuroBox PLC Debt Facility Increase (6619K)
17 Dicembre 2018 - 11:00AM
UK Regulatory
TIDMEBOX TIDMBOXE
RNS Number : 6619K
Tritax EuroBox PLC
17 December 2018
17 December 2018
TRITAX EUROBOX PLC
(the "Company")
EUR100 MILLION INCREMENTAL BANK FACILITIES
The Board of Tritax EuroBox plc (tickers: EBOX (Sterling), BOXE
(Euro)), which invests in Continental European logistics assets, is
pleased to announce it has agreed a EUR100 million increase to its
existing EUR200 million unsecured revolving credit facility, which
was announced on 22 October 2018. This increase is on the same
terms as the existing facility.
Bank of America Merrill Lynch has agreed to provide a new EUR100
million commitment alongside existing lenders HSBC and BNP
Paribas.
The Company was advised on the financing by Lazard & Co.,
Limited.
Nick Preston, Fund Manager for Tritax EuroBox plc,
commented:
"We are delighted that Bank of America Merrill Lynch has
supported us in this transaction. The new commitment will provide
additional flexible liquidity to pursue investment opportunities in
our pipeline."
For further information, please contact:
Tritax Group via Newgate below
Nick Preston
James Dunlop
Ben Freeman
Lazard (Financial Adviser)
Ranjit Munro
Vasco Litchfield
Caroline Kracke +4420 7187 2000
Jefferies International Limited
Gary Gould
Stuart Klein +44 (0) 20 7029 8000
Kempen & Co N.V.
Dick Boer
Thomas ten Hoedt +31 (0) 20 348 8500
Newgate (Communications Adviser) +44 (0) 7747 113 930
James Benjamin tritax@newgatecomms.com
The Company's LEI is: 213800HK59N7H979QU33
NOTES:
Tritax EuroBox plc intends to acquire and manage a
well-diversified portfolio of well-located Continental European
logistics real estate assets that are expected to deliver an
attractive capital return and secure income to shareholders. These
assets will fulfil key roles in the logistics and distribution
supply-chain focused on the most established logistics markets and
on the major population centres across core Continental European
countries.
Occupier demand for Continental European logistics assets is in
the midst of a major long-term structural change principally driven
by the growth of e-commerce. This is evidenced by technological
advancements, increased automation and supply-chain optimisation,
set against a backdrop of resurgent economic growth across much of
Continental Europe.
The Company's Manager, Tritax Management LLP, has assembled a
full-service European logistics asset management capability
including specialist "on the ground" asset and property managers
with strong market standings in the Continental European logistics
sector. The appointed asset managers Logistics Capital Partners
("LCP") and Dietz AG ("Dietz") are logistics specialists and offer
the Company exposure to high quality asset management expertise and
access to their respective development pipelines, providing
acquisition opportunities across Continental Europe.
The Company is targeting, on a fully invested and geared basis,
an initial Ordinary Share dividend yield of 4.75% p.a.(1) , which
is expected to increase progressively through regular indexation
events inherent in underlying lease agreements, and a total return
on the Ordinary Shares of 9.0% p.a.(1) over the medium-term. The
Company intends to pay dividends on a quarterly basis with
shareholders able to receive dividends in Sterling or Euro.
Further information on Tritax EuroBox plc is available at
www.tritaxeurobox.co.uk
1. Euro denominated returns, by reference to IPO issue price.
These are targets only and not profit forecasts. There can be no
assurances that these targets will be met and they should not be
taken as indications of the Company's expected or actual future
results. Accordingly, potential investors should not place any
reliance on these targets in deciding whether or not to invest in
the Company and should decide for themselves whether the targets
are reasonable or achievable.
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END
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December 17, 2018 05:00 ET (10:00 GMT)
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