Asia Dragon Trust PLC Extension of Loan Facility
July 31 2024 - 7:51AM
RNS Regulatory News
RNS Number : 6327Y
Asia Dragon Trust PLC
31 July 2024
Asia
Dragon Trust plc (the "Company")
Legal Entity Identifier (LEI):
549300W4KB0D75D1N730
31
July 2024
Extension of Loan Facility
The Company is pleased to confirm that
it has extended the maturity of its unsecured £50 million
multi-currency revolving credit facility (the "RCF") with The Royal
Bank of Scotland International Limited, London Branch (the
"Lender") from 29 July 2024 to 29 March 2025, and increased the
principal amount available under the RCF to £75 million. The
£25 million increase has been used to repay the Company's £25
million Fixed Rate Loan with the Lender which matured on 29 July
2024.
The Company now has a single unsecured
£75m RCF with the Lender, under which the Company retains
flexibility to repay and cancel the facility at any time during its
tenor, on 5 business days' notice.
The facility now consists of the
following drawings:
·
GBP 25 million drawn on a revolving basis at a
current all-in rate of 6.4%; and
·
HKD 480 million drawn on a revolving basis at a
current all-in rate of 5.555%.
The Company's total borrowings
therefore remain unchanged at £72.8 million in Sterling terms,
which gives a net gearing figure of 9.5% based on the Company's net
asset value at 29 July 2024.
END
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