11 November 2025. Tritax Big Box REIT plc (the Offeror) announces today the pricing and results of its invitation to holders of its outstanding £250,000,000 2.625 per cent. Notes due 14 December 2026 (ISIN: XS1732146698) (the Notes) to tender any and all of their Notes for purchase by the Offeror for cash (the Offer).
The Offer was announced on 3 November 2025 and was made on the terms and subject to the conditions contained in the tender offer memorandum dated 3 November 2025 (the Tender Offer Memorandum). Capitalised terms used in this announcement but not defined have the meanings given to them in the Tender Offer Memorandum.
The Expiration Deadline for the Offer was 4.00 p.m. (London time) on 10 November 2025. As at the Expiration Deadline, the Offeror had received valid tenders of £184,365,000 in aggregate nominal amount of the Notes for purchase pursuant to the Offer.
The Offeror announces that (subject to the satisfaction (or waiver) of the New Financing Condition on or prior to the Settlement Date) it has decided to accept for purchase all Notes validly tendered pursuant to the Offer.
Pricing for the Offer took place at or around 11.00 a.m. (London time) today. The Purchase Price payable by the Offeror for Notes validly tendered and accepted for purchase will be 98.644 per cent.
A summary of the pricing for the Offer is set out in the table below:
Benchmark Security Rate | Purchase Spread | Purchase Yield | Purchase Price |
3.562 per cent. | 35 bps | 3.912 per cent. | 98.644 per cent. |
The Offeror will also pay an Accrued Interest Payment in respect of Notes accepted for purchase pursuant to the Offer.
The expected Settlement Date for the Offer is 13 November 2025.
Following the Settlement Date, the Offeror intends to cancel the Notes purchased pursuant to the Offer. Accordingly, following settlement of the Offer and such cancellation, £65,635,000 in aggregate nominal amount of the Notes will remain outstanding. Following the cancellation of the Notes purchased on 13 November 2025, application will be made for the admission of such purchased Notes to the Official List and to trading on the Global Exchange Market of the Irish Stock Exchange plc, trading as Euronext Dublin, to be cancelled.
BNP PARIBAS (Attention: Liability Management Group; Telephone: +33 1 55 77 78 94; Email: [email protected]) and NatWest Markets Plc (Attention: Liability Management;
Telephone: +44 20 7678 5222; Email: [email protected]) are acting as Dealer Managers and Kroll Issuer Services Limited (Attention: Owen Morris; Telephone: +44 20 7704 0880; Email: [email protected]; Website: https://deals.is.kroll.com/tritax) is acting as Tender Agent.
This announcement is released by Tritax Big Box REIT plc and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the EUWA (UK MAR), encompassing information relating to the Offer described above. For the purposes of UK MAR and the Implementing Technical Standards, this announcement is made by Hana Beard, Group Company Secretary at the Offeror.
DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. No offer or invitation to acquire any securities is being made pursuant to this announcement. The distribution of this announcement and the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum come(s) are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about, and to observe, any such restrictions.