Notice of Addition of Guarantor

RNS Number : 8982X

Tritax Big Box REIT plc

23 December 2019

 

THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS. IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD CONSULT THEIR OWN INDEPENDENT PROFESSIONAL ADVISERS IMMEDIATELY.

23 December 2019

NOTICE TO THE HOLDERS OF THE FOLLOWING NOTES ISSUED BY

TRITAX BIG BOX REIT PLC
(the "Issuer")

£250,000,000 2.625 per cent. Guaranteed Notes due 14 December 2026 (ISIN: XS1732146698) (the "2026 Notes")

£250,000,000 3.125 per cent. Guaranteed Notes due 14 December 2031 (ISIN: XS1732146938) (the "2031 Notes")

(together, the "Notes")

_______________________

NOTICE OF ADDITION OF GUARANTOR

_______________________

NOTICE IS HEREBY GIVEN THAT:

In accordance with Condition 3.4 of the Terms and Conditions of the Notes and Clause 7.11 of the trust deed dated 23 November 2017 (the "Principal Trust Deed") made between the Issuer, certain guarantors named therein (the "Original Guarantors") and BNY Mellon Corporate Trustee Services Limited (the "Trustee"), by way of a supplemental trust deed dated 18 December 2019 (the "Supplemental Trust Deed", and, along with the Principal Trust Deed, the "Trust Deed") made between the Issuer, Tritax Worksop 18 Limited, Tritax Acquisition 45 Limited, Tritax Acquisition 46 Limited, Tritax Acquisition 47 Limited and Tritax Acquisition 48 Limited (the "Additional Guarantors") and the Trustee, the Additional Guarantors have been added as additional guarantors to fully and unconditionally guarantee, on a joint and several basis with the Original Guarantors, the due and punctual payment of the principal of and premium (if any) and interest on the Notes and of any other amounts payable by the Issuer under the Trust Deed.

Information on the Additional Guarantors

Name of Additional Guarantor	Jurisdiction of Incorporation	Date of Incorporation	Registered Number	Registered Address	Business Activity
Tritax Worksop 18 Limited	Jersey	16 September 2016	122092	13-14 Esplanade, St Helier, Jersey, JE1 1EE	Property investment
Tritax Acquisition 45 Limited	Jersey	29 March 2018	126091	13-14 Esplanade, St Helier, Jersey, JE1 1EE	Property investment
Tritax Acquisition 46 Limited	Jersey	24 July 2018	126926	13-14 Esplanade, St Helier, Jersey, JE1 1EE	Property investment
Tritax Acquisition 47 Limited	Jersey	24 July 2018	126927	13-14 Esplanade, St Helier, Jersey, JE1 1EE	Property investment
Tritax Acquisition 48 Limited	Jersey	19 September 2018	127335	13-14 Esplanade, St Helier, Jersey, JE1 1EE	Property investment

The Additional Guarantors are direct or indirect wholly-owned subsidiaries of the Issuer.

Certain REIT Group audited consolidated figures

The figures in the table as set out below show, by relevant category, the aggregate of the unaudited individual entity figures adjusted for all consolidation items to arrive at the consolidated REIT Group (being the Issuer and all of its subsidiary undertakings) figures for gross rental income, operating profit before changes in fair value of investment properties and net assets as reflected in the REIT Group's audited financial statements for the financial year ended 31 December 2018.

The main adjustments made to adjust the entity figures for operating profit before changes in fair value of investment properties to the Issuer's consolidated operating profit before changes in fair value of investment properties are to (i) ignore any inter group distributions and (ii) remove lease incentive adjustments not applicable at the REIT Group level.

The main adjustments made to adjust the entity figures for net assets to the Issuer's consolidated net assets are to (i) to eliminate the value of investment in subsidiaries and (ii) to eliminate all inter group balances.

	Year ended and as at 31 December 2018
	Issuer		Guarantors		Non-Guarantors		Totals
	£'000	%	£'000	%	£'000	%	£'000	%
Gross rental income………………	-	-	97,165	72.6	36,686	27.4	133,851	100.00
Operating profit before changes in fair value of investment properties……………	(17,886)	(15.7)	99,132	87.1	32,514	28.6	113,760	100.00
Net assets……………	2,153	-	1,475,657	65.9	763,093	34.1	2,240,903	100.00

________________________________________________

For further information, please contact:

Tritax Group Colin Godfrey (Partner, Fund Manager) Frankie Whitehead via Maitland below Maitland (Communications Adviser) James Benjamin Tel: [phone] [e-mail] Jefferies International Limited Gary Gould Stuart Klein Tel: [phone] Akur Limited Anthony Richardson Tom Frost Siobhan Sergeant Tel: [phone]

The Issuer's LEI is: 213800L6X88MIYPVR714

NOTES:

Tritax Big Box REIT plc is the only listed vehicle dedicated to investing in very large logistics warehouse assets ("Big Boxes") in the UK and is committed to delivering attractive and sustainable returns for Shareholders. Investing in and actively managing existing built investments, land suitable for Big Box development and developments predominantly delivered through pre-let forward funded basis, the Company focuses on large, well-located, modern Big Box logistics assets, let to institutional-grade tenants on long-term leases (typically at least 12 years in length) with upward-only rent reviews and geographic and tenant diversification throughout the UK. The Company seeks to exploit the significant opportunity in this sub-sector of the UK logistics market owing to strong tenant demand and limited supply of Big Boxes.

The Company is a real estate investment trust to which Part 12 of the UK Corporation Tax Act 2010 applies ("REIT"), is listed on the premium segment of the Official List of the UK Financial Conduct Authority and is a constituent of the FTSE 250, FTSE EPRA/NAREIT and MSCI indices.

Further information on Tritax Big Box REIT is available at www.tritaxbigbox.co.uk

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

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