Tritax Big Box signs new £72m loan facility with Canada Life

Tritax Big Box said it has signed a new long-term, interest only, fixed-rate term loan of £72m with Canada Life Investments , secured against a portfolio of three standing assets.

Tritax said it was drawing the full amount immediately. It is repayable on 30 April 2029 and has a fixed all-in rate payable of 2.64% a year.

The facility extends the group's weighted average unexpired loan term from 4.4 years to 5.3 years and increases the group's loan to value ("LTV") ratio to approximately 33%.