Revolving Credit Facility

RNS Number : 5118Z

Standard Life UK Small.Co's Tst PLC

15 December 2017

 

STANDARD LIFE UK SMALLER COMPANIES TRUST PLC

15 DECEMBER 2017

REVOLVING CREDIT FACILITY

Standard Life UK Smaller Companies Trust plc ("the Trust") is pleased to announce it has drawn down £15m of the £20m Revolving Credit Facility it agreed with The Royal Bank of Scotland plc in November 2017. The facility is priced off 3 month LIBOR and means that, when combined with the five year, fixed term loan drawn in November 2017, the weighted average rate of the drawn borrowings will be around 1.94%.

The Portfolio Manager, Harry Nimmo, explained "The majority of our holdings are trading strongly. The year end has seen market fatigue partly as a result of the scale of new share issuance. This has given rise to significant value becoming apparent and provides investment opportunities for long-term investors, such as the Trust, to access high-quality companies at attractive valuations."

All enquiries:

Evan Bruce-Gardyne

Head of Investment Companies, Standard Life Investments    Tel. [phone]

 

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