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MYI Murray International Trust Plc

248.50
-0.50 (-0.20%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Murray International Trust Plc LSE:MYI London Ordinary Share GB00BQZCCB79 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.20% 248.50 248.50 249.50 250.00 247.00 250.00 872,594 16:35:14
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 140.42M 131.85M 0.2133 11.67 1.54B

Murray International Trust PLC New long-term fixed rate borrowing (1939V)

12/04/2021 3:55pm

UK Regulatory


Murray (LSE:MYI)
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From Mar 2021 to Mar 2024

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TIDMMYI

RNS Number : 1939V

Murray International Trust PLC

12 April 2021

12 April 2021

Murray International Trust PLC ("the Company")

Legal Entity Identifier (LEI): 549300BP77JO5Y8LM553

New long-term fixed rate borrowing

The Board of Murray International Trust PLC (the "Company") today announces that it has agreed terms (through the acceptance of a conditional offer that is subject to diligence and agreement of legal documentation) to extend part of the Company's long-term borrowings through the issuance of a GBP50 million 10 year Senior Unsecured Loan Note (the "Loan Note") at an annualised interest rate of 2.24%. The Loan Note will be unsecured, unlisted and denominated in sterling. The Loan Note shall rank pari passu with the Company's other unsecured and unsubordinated financial indebtedness.

The Company intends to use the proceeds of the Loan Note to repay, and cancel in full, the Company's GBP50 million Revolving Credit Facility ("RCF") with The Royal Bank of Scotland International Limited, London Branch, which is fully drawn and due to expire on 13 May 2021.

An additional GBP150 million will also be available for drawdown by the Company for a five-year period. The Board's current intention would be to only draw this down to repay any of the Company's existing debt. The minimum drawdown would be in tranches of GBP10m and the exact terms of such a borrowing would be agreed at the time of drawdown. The Company will pay no fees on this facility, other than minimal legal fees.

Once the initial drawdown is completed (expected to be 13 May 2021) and the RCF has been repaid, the Company's borrowings are expected to total approx. GBP200m, which represents a net gearing level of 13.0% based on the Company's Net Asset Value as at 9 April 2021.

Contacts

Aberdeen Standard Investments

   William Hemmings                                                           020 7463 6223 
   Charles Mearns                                                                 0131 528 1432 

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END

MSCDKBBPQBKDNQD

(END) Dow Jones Newswires

April 12, 2021 10:55 ET (14:55 GMT)

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