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Big Yellow Completes 7-year Debt Facility With Aviva

Big Yellow Group Plc. (BYG.L) said that it has completed a 7 year debt facility with Aviva of 35 million pounds at an all-in cost of 1.96%, secured over the existing Aviva security pool of 15 stores. The all-in cost reduces to 1.91% following the installation of 50 kWh capacity solar panels at three of the stores.

The company noted that the total debt facilities from Aviva are now 117.5 million pounds of which 82.5 million pounds will continue to amortise down to 60 million pounds over the remaining seven years of the loan.

The new facility provides the Group with headroom of cash and undrawn bank facilities of 73 million pounds.

The average cost of debt on drawn facilities is now 2.6% and the marginal cost of RCF bank debt remains at 1.35%

The Group's earliest maturity is on its 70 million pounds M&G loan in June 2023 and the Group's debt has an average maturity of 4.9 years.

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