- Tritax Big Box REIT said Wednesday that it had signed an agreement with a number of new institutional investors for a private placement of £400m new senior unsecured loan notes.

The loan notes comprised two tranches - £250m at fixed coupon of 2.86% and £150m at a fixed coupon of 2.98% - with a weighted average coupon of the fixed rate notes equating to 2.91% and a weighted average maturity of 9.8 years, the company said.

The proceeds would 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.

The loan Notes were priced on 15 Nov. 2018 and the loan note purchase agreement was signed on 4 Dec. 2018. The funds would be drawn on 28 February 2019, the company added.

Story provided by