Tritax Big Box extends termination date of £300m credit facility

Warehouse investor Tritax Big Box said it was extending the termination date of £300m of its £350m unsecured revolving credit facility.

While the maturity date of the residual £50m will remain 10 December 2023, the £300m payment will be pushed out until 10 December 2024, the company said on Tuesday.

The FTSE 250-listed group's facility, which was with a syndicate of lenders, also retained its uncommitted £200m accordion option and the margin payable under the facility of 1.10% per year over the three month London Interbank Offered Rate also remained unchanged.

The facility was entered into in December 2017 for an initial period of five years and the extension was the second of two one-year extension options that were available to the company under the original terms.

The agreement in respect of the facility extends Tritax's weighted average debt maturity to 7.6 years.

As of 0820 GMT, Tritax shares were down 0.14% at 146.20p.