BOXE Tritax Eurobox Plc

TIDMEBOX TIDMBOXE

RNS Number : 0062S

Tritax EuroBox PLC

12 March 2021

12 March 2021

INVESTMENT GRADE RATING ASSIGNED TO TRITAX EUROBOX BY FITCH RATING LIMITED

Tritax EuroBox plc (EuroBox or the Company), which invests in a high-quality portfolio of very large, prime logistics real estate assets strategically located across continental Europe, announces that Fitch Ratings Limited (Fitch) has assigned a BBB- long-term corporate credit rating to the Company, EuroBox's first Investment Grade credit rating.

As a result, the ratings condition in the existing revolving facility agreement is satisfied, which will result in a step down in the cost of this debt of approximately 30 basis points (depending on the prevailing Loan to Value ratio). In addition to the immediate strengthening of the Company's earnings per share due to the reduction in financing costs, the Investment Grade credit rating will allow the Company access to the Debt Capital Markets in line with its near-term ambition.

Mehdi Bourassi, Finance Director of Tritax EuroBox, commented:

"The Company's recent successful fundraise allows us to capitalise further on the significant opportunities that exist in the continental European logistics real estate market. Obtaining an Investment Grade credit rating marks a significant milestone in the evolution of the Company, demonstrating our maturity and stability. It will enable access to a wider pool of financing strategies, leading to even greater resilience and a lower cost of debt.

We look forward to updating investors on the deployment of the recently raised capital as we further strengthen and diversify our portfolio in line with our long-term strategy."

For further information please contact:

Tritax Group

+44 (0) 20 8051 5070

Nick Preston

Mehdi Bourassi

Jo Blackshaw (Investor Relations)

Maitland/AMO (Media enquiries)

James Benjamin

+44 (0) 7747 113 930

tritax-maitland@maitland.co.uk

The Company's LEI is: 213800HK59N7H979QU33.

Notes:

Tritax EuroBox plc invests in and manages a well-diversified portfolio of well-located Continental European logistics real estate assets that are expected to deliver an attractive capital return and secure income to shareholders. These assets fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.

Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation.

The Company's Manager, Tritax Management LLP, has assembled a full-service European logistics asset management capability including specialist "on the ground" asset and property managers with strong market standings in the Continental European logistics sector.

Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk

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