APPLEBY ADVISE TRITAX BIG BOX REIT PLC ON £90 MILLION LOAN FACILITY AND RESTRUCTURING
Appleby has advised Tritax Big Box REIT plc (Tritax) on the Jersey law aspects of pre-refinancing restructuring by the insertion of a new Jersey incorporated special purpose vehicle holding company into a segregated obligor group, consisting of four separate Jersey companies, within the wider Tritax group. The restructuring was a precursor to the borrower group entering into a new long-term, interest only, fixed rate term, loan facility (the Facility) of £90 million with PGIM Real Estate. The Facility is secured against a portfolio of three standing assets and one forward funded asset.
The Appleby team was led by corporate partner Andrew Weaver and assisted by associate Kevin McQuillan and legal assistant Emily Ashford.
Commenting on the transaction, Andrew Weaver said: “We are very pleased to complete this latest financing transaction for Tritax. Appleby is incredibly proud to be associated with such an exciting brand and to work alongside the Tritax team again. The transaction demonstrates the expertise of our pragmatic, client-centric and solution driven team.”