(Alliance News) - Tritax EuroBox PLC said on Thursday that it has signed a EUR200 million loan agreement with its institutional investors.
The London-based property investor has signed EUR200 million in senior unsecured notes comprising three tranches with a weighted average coupon of 1.368%, and a maturity of nine years.
The proceeds will provide the company with additional capital for the acquisition of further potential near-term investment opportunities and will be used alongside EUR250 million of equity raised by the company in September.
Individually the notes comprises EUR100 million at a fixed coupon of 1.216%, with a seven-year maturity, EUR50 million at 1.449 per cent, with a 10-year maturity, and EUR50 million at coupon of 1.590 per cent, with a 12-year maturity.
Tritax was advised on the financing by Lazard & Co Ltd.
Finance Director Mehdi Bourassi commented: "We are pleased with the backing that this issue received from new institutional debt investors as part of our debut unsecured private placement. The placement supports our growth strategy, further diversifies our funding by providing access to a new source of liquidity at an attractive fixed cost and increases the weighted average maturity of our debt."
Shares were down 0.7% at 109.40 pence on Thursday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Tritax Eurobox (EBOX)