Dunedin Income Growth Inv Tst PLC Redemption of Debenture Stock (6208X)
April 30 2019 - 9:48AM
UK Regulatory
TIDMDIG
RNS Number : 6208X
Dunedin Income Growth Inv Tst PLC
30 April 2019
Dunedin Income Growth Investment Trust PLC ("the Company")
Legal Entity Identifier (LEI): 549300PPXLZPR5JTL763
30 April 2019
Redemption of Debenture Stock
Dunedin Income Growth Investment Trust PLC announces that, in
accordance with the Trust Deed, it has today redeemed at par the
GBP28.6 million 7(7/8) % Debenture Stock 2019. The redemption was
funded by the disposal of the Company's portfolio of corporate
bonds that was put in place in December 2015 for this purpose.
The Company has also made a separate payment of accrued interest
up to and including the date of redemption.
Following the redemption of the Debenture Stock, the Company's
borrowings comprise the GBP30.0 million 3.99% Loan Notes 2045 and
the GBP15.0 million multi-currency revolving credit facility, of
which a Sterling equivalent of GBP11.3 million is currently drawn
down.
The redemption simplifies the Company's capital structure and
significantly reduces the headline level of gearing which, net of
cash, is currently 8.6%.
For further information, please contact:
Aberdeen Asset Management PLC
Secretaries
0131 528 4000
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END
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