Alliance Trust PLC Alliance Trust Plc - Fixed Rate Note Borrowing
01 Décembre 2023 - 1:53PM
UK Regulatory
TIDMATST
1 December 2023
ALLIANCE TRUST PLC
Fixed rate note borrowing
Alliance Trust PLC (the "Company") has issued EUR70m fixed rate
privately placed notes (the "Notes") in two tranches of EUR20m and
EUR50m 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 Watson
Tel. +44 (0)7918 724303
(END) Dow Jones Newswires
December 01, 2023 07:53 ET (12:53 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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