abrdn Asian IncFd - Renewal of Revolving Credit Facility
04/03/2024 15:22
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RNS Number : 5189F abrdn Asian Income Fund Limited 04 March 2024
ABERDEEN ASIAN INCOME FUND LIMITED (the "Company")
LEI Identifier: 549300U76MLZF5F8MN87
Renewal of Revolving Credit Facility
4 March 2024
The Company announces that it has renewed its 3 year £40 million
multi-currency revolving credit facility ("revolving credit facility") with
Bank of Nova Scotia, London Branch ("the Lender"), for an increased sum of
£50 million, secured by a floating charge, for one year.
Under the terms of the revolving credit facility, the Company also has the
option to increase the level of the commitment from £50 million to £70
million at any time, subject to the identification by the Manager of suitable
investment opportunities and the Lender's credit approval.
Under the revolving credit facility, HKD73.5 million, US$ 8.85 million and GBP
17.8 million has been drawn down for a one month interest period.
The Company's £10 million fixed rate loan, which matures today, has not been
renewed.
The Company's total gearing remains unchanged and currently amounts to the
equivalent of £32.2 million or 8.4% of the net asset value of the Company
(based on unaudited net assets as at the close of business on 29 February
2024).
This leaves the Investment Manager with some headroom to draw down further
under the facility, should market opportunities arise.
abrdn Investments Limited
Administrator
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