Alliance Trust PLC - Fixed Rate Note Borrowing
01 Dezembro 2023 - 9:53AM
Alliance Trust PLC - Fixed Rate Note Borrowing
1 December 2023
ALLIANCE TRUST PLC
Fixed rate note borrowing
Alliance Trust PLC (the “Company”) has issued €70m fixed rate
privately placed notes (the “Notes”) in two tranches of €20m and
€50m respectively, with maturities of 7 and 10 years and coupons of
4.02% and 4.18%. The closing and settlement date is today with
interest payable semi-annually.
The purpose of this transaction is to obtain fixed rate,
medium-dated Euro denominated financing at a pricing level that the
Company considers attractive. The transaction is expected to
provide the Company with a long-term benefit through a full market
cycle.
The proceeds of the financing will be used to repay some of the
Company’s existing floating rate bank borrowings, such that the
Company’s current drawn borrowings will remain broadly unchanged.
As a result of these changes, our weighted average borrowing costs
will reduce from 4.7% pa to 3.8% pa.
For more information, please contact:
Mark Atkinson, Senior Director – Client Management, Wealth &
Retail Willis Towers WatsonTel. +44 (0)7918 724303
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