Tritax Big Box completes Erith facility and extends £51m loan

Tritax Big Box announced on Monday that, following completion of the Ocado distribution warehouse at Erith, the board of the real estate investment trust has agreed terms to extend the maturity of its £50.866m loan facility.

The FTSE 250 firm said the facility was secured on the asset with Landesbank Hessen-Thüringen Girozentrale from July 2020 to July 2023.

“Including the Facility, the blended margin payable across the company's financings will be 1.43% above three month LIBOR,” Tritax’s board said in a statement.

“When taking into account the company's hedging arrangements, the all-in capped cost of borrowing is 2.86%.

“The company has 99.7% of its drawn debt subject to hedging arrangements,” it added.