Alliance Trust PLC : Fixed rate note borrowing

18 June 2014

ALLIANCE TRUST PLC

Fixed rate note borrowing

Alliance Trust PLC has today agreed a £100m fixed rate 15 year unsecured private placement note at a coupon of 4.28% (the "Notes").   The purpose of this transaction is to obtain unsecured fixed rate long dated Sterling denominated financing at a pricing level that the Company considers attractive, and is expected to enhance shareholder returns over the investment cycle in line with the Company's investment objective.

The funding date is expected to be 31 July 2014 with interest payable semi-annually.   The principal repayment date will be 31 July 2029.   This funding will be used to retire £100m of the Company's existing £380m gearing, all of which is currently short term funding, such that the Company's current drawn borrowing will remain unchanged after the Notes' issuance.  Total borrowing facilities including the Notes will increase by £100m to £550m post completion of this transaction.  The weighted average interest payable on all borrowing facilities will increase from 1.61% to 2.26% as at the date of funding.

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act.

Contact

For more information, please contact:

Conor McClafferty & Clare Dundas
RLM Finsbury
020 7251 3801

Alan Trotter
Chief Financial Officer
Alliance Trust PLC 01382 321235

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Alliance Trust PLC via Globenewswire

HUG#1795370