Issue of Unsecured Notes

RNS Number : 4043O

JPMorgan American IT PLC

07 October 2021

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

 JPMORGAN AMERICAN INVESTMENT TRUST PLC

(the 'Company')

  Issue of $35 million of Unsecured Notes

Legal Entity Identifier: 549300QNAI4XRPEB4G65

The Board of JPMorgan American Investment Trust plc is pleased to announce that it has raised an additional $35 million of long-term debt through the issue a fixed rate, senior unsecured privately placed note (the "Note"). The Note, which will be funded on 7th October 2021, is $35 million in total, maturing in 2032 with a fixed coupon of 2.32%.

The net proceeds from the Notes will be used in part to repay the Company's short-term indebtedness. The balance of the proceeds will be available to be invested as and when attractive opportunities arise. The Company's short-term debt facility will remain available providing further investment flexibility.

Dr Kevin Carter, the Company's Chair, commented:

'Given the increase in the Company's asset base over recent years, the Board is very pleased to have been able to take advantage of current market conditions to increase and re-balance the Company's borrowing facilities at attractive rates and over different and longer time periods. This new debt will ensure that there are adequate facilities in place overall to enable the Company's Investment Managers to operate more fully across the Company's gearing range as opportunities arise'.

There has been no change in the Company's permitted gearing range as set by the Board, to limit gearing within the range of -5% to 20% geared.

7th October 2021  

For further information, please contact:

Priyanka Vijay Anand

JPMorgan Funds Limited

020 7742 4000

 

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