Ogier and Appleby have acted for Barclays Bank and Tritax Big Box REIT, respectively, in connection with the £500 million group restructuring and subsequent refinancing of existing debt of the latter's UK Big Box real estate portfolio.
Tritax consolidated approximately £250 million of existing debt into one facility agreement before undergoing a restructuring that introduced two further Jersey holding companies into the group structure. Following the restructuring Tritax entered into a new five year £500 million secured debt facility with a syndicate of four lenders: Barclays Bank, Helaba, Wells Fargo Bank and ING Real Estate Finance (UK).
Tritax Big Box operates in UK Big Box real estate investment, and is the first listed entity to give pure exposure to the Big Box asset class in the UK.
The Ogier Jersey team comprised Chris Byrne (Partner), Peter Longstaffe (Managing Associate) and Anna Cochrane (Associate). The Ogier Guernsey team comprised Marcus Leese (Partner) and Michaela Jesson (Senior Associate), and the Ogier BVI team comprised Simon Dinning (Partner) and Wendy Walker (Senior Associate).
The Appleby cross-border team was led by Corporate Partner Andrew Weaver, assisted in Jersey by Senior Associate Danny Cole and Associate Kevin McQuillan. Other Appleby team members included Senior Associate Chet Pohl in Guernsey, Cousel Andrew Jowett in BVI, and Associate Camilla Griffiths in the Isle of Man.