Reduction of Borrowing Costs

RNS Number : 9874H

Scottish American Investment Co PLC

11 April 2022

 

THE SCOTTISH AMERICAN INVESTMENT COMPANY P.L.C. (SAIN)

Legal Entity Identifier: 549300NF03XVC5IFB447

Reduction of Borrowing Costs

The Board of The Scottish American Investment Company P.L.C. confirms that its 2022 debenture stock, which bore a coupon of 8%, has been redeemed at its scheduled maturity date. As previously announced, the Company had earlier agreed to refinance its long term borrowings with £80m of long-term private placement debt. This refinancing has now been completed and the ongoing borrowing cost of the Company's debt, including this £80m and the additional £15m of private placement debt which was raised last year, is now just below 3% per annum.

Baillie Gifford & Co Limited

Managers and Secretaries

11 April 2022

Regulated Information Classification: Additional regulated information required to be disclosed under applicable laws.

 

END

 

 

MSCBDGDSGGBDGDB