Issue of EUR20m Fixed Rate Notes

RNS Number : 3116V

British Empire Trust PLC

01 November 2017

 

BRITISH EMPIRE TRUST PLC (the "Company")

Issue of EUR20m fixed rate notes

Further to the announcement issued on 11 October 2017, the Company is pleased to announce that it has today received the debt funding set out in the announcement, namely 20-year unsecured private placement notes (the "Notes"):

-     EUR20 million (equivalent to approximately £17.5 million at the closing exchange rate on 31 October 2017).

The annualised cost of the new debt is 2.93%. The Notes are due to be repaid on 1 November 2037. The interest payment dates will be 1 May and 1 November.

The Notes are unsecured. There has been no change in the Company's formal policy on gearing, as set out on page 36 of the 2016 Annual Report. Total fixed rate borrowing, including the Notes, has increased to £88.6 million following completion of this transaction.

Enquiries:

Asset Value Investors

Joe Bauernfreund

Tel: [phone]

Quill PR

Fiona Harris

Tel: [phone]

[e-mail] 

Andreea Caraveteanu

Tel: [phone]

[e-mail] 

1 November 2017

LEI: 213800QUODCLWWRVI968

 

END

 

 

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