Bond Repurchase and Purchase Price

RNS Number : 2238D

Aberdeen Diversified I&G Trust PLC

26 October 2020

 

Aberdeen Diversified Income and Growth Trust plc (the "Company")

Legal Entity Identifier (LEI):  2138003QINEGCHYGW702

26 October 2020

Bond repurchase and purchase price

The Board of Aberdeen Diversified Income and Growth Trust plc (the "Company" or "ADIG") is pleased to announce, following the offer made to the holders of the Company's 6.25% Bonds due 2031, ISIN XS0134340180, (the "Bonds") announced on  21 October 2020, that the Company has agreed terms with holders of the Bonds to repurchase in full £43,904,000 principal amount of the Bonds, equivalent to 73.2% of the total issue.

The agreed purchase price of 154.094491% has been calculated using a credit spread of 0.80% above the redemption yield on the United Kingdom 6% Treasury Stock due 7 December 2028 at or about 11 a.m. of today's date. Therefore the consideration payable by the Company, not including accrued interest, is approximately £67.65 million. Using the latest practicable date of 23 October 2020, the cost will be equivalent to a fair value net asset value reduction of approximately 1.55 pence per Ordinary share.

The Bonds are to be repurchased on or about 2 November 2020 with cash settlement, including accrued interest and will be cancelled.

Following the repurchase and cancellation of the Bonds there will remain £16,096,000 Bonds in issue with interest payable thereon half yearly at the coupon rate of 6.25%.

Aberdeen Asset Management PLC

Secretary

For further information, please contact:

Aberdeen Standard Fund Managers Limited

Luke Mason

Gary Jones

William Hemmings

Tel. [phone]

Cenkos Securities plc

Andrew Worne

Tel. [phone]

Daniel Balabanoff

Tel. [phone]

Rob Naylor

Tel. [phone]

 

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