Doc re. Long Term Fixed Rate Borrowing

RNS Number : 9325Q

City of London Investment Trust PLC

15 September 2017

 

HENDERSON INVESTMENT FUNDS LIMITED

THE CITY OF LONDON INVESTMENT TRUST PLC

Legal Entity Identifier: 213800F3NOTF47H6AO55

15 September 2017

THE CITY OF LONDON INVESTMENT TRUST PLC

Long Term Fixed Rate Borrowing

The Board of the Company announces that it has agreed to issue £50m of fixed rate 32-year secured private placement notes (the "Notes") at an annualised coupon of 2.94%. The funding date will be 17 November 2017, with interest payable semi-annually on 17 May and 17 November (first payment on 17 May 2018). The principal repayment date will be 17 November 2049.

The Notes shall be direct secured obligations of the Company and rank pari passu with all other secured indebtedness of the Company.

The purpose of the Notes is to secure fixed rate long dated Sterling denominated financing at a pricing level the Company considers attractive and to take advantage of the Company's flexibility to utilise both short and long term gearing in order to enhance performance.

J.P. Morgan Cazenove acted as placement agent in respect of this issue.

Enquiries:

Janus Henderson Investors

James de Sausmarez                                                                           

Tel: [phone]

J.P. Morgan Cazenove                                                                          

Tel: [phone]

William Simmonds

 

END

 

 

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