Fixed Rate Borrowing

RNS Number : 1645V

City of London Investment Trust PLC

10 December 2013

 



HENDERSON GLOBAL INVESTORS

THE CITY OF LONDON INVESTMENT TRUST PLC

10 December 2013

Fixed Rate Borrowing

The Board of the Company announces that it has agreed to issue £35m of fixed rate 15 year private placement notes (the "Notes") at an annualised coupon of 4.53%. The funding date will be 21 January 2014 and the Notes will be due for bullet repayment on 22 January 2029. The interest payment dates will be 22 January and 22 July.

The Notes will be secured by a first floating charge over the Company's assets, ranking pari passu with the existing debenture stock.

The Notes provide the Company with greater balance between its short and long term debt position and are expected to enhance long term performance.

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

Enquiries:

Henderson Global Investors                                                                         Tel: [phone]

James de Sausmarez                                                                                 

Job Curtis

J.P. Morgan Cazenove                                                                                 Tel: [phone]

William Simmonds                                                                               

 

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