REG - Asia Dragon Trust - Further Drawdown on Revolving Loan Facility

Asia Dragon TrustAnnouncement

18/03/2024 16:30

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RNS Number : 2969H  Asia Dragon Trust PLC  18 March 2024

Asia Dragon Trust plc (the "Company")

Legal Entity Identifier (LEI):  549300W4KB0D75D1N730

Further Drawdown on Revolving Loan Facility

18 March 2024

Under the terms of the Company's existing multi-currency revolving credit
facility with The Royal Bank of Scotland International Limited, London Branch
(the Lender"), which was put in place on 29 July 2022, the Company has
obtained an increased level of commitment from the Lender, from £35 million
to £50 million.

The Investment Manager has drawn down the equivalent of the additional £15
million in HKD, following the identification of suitable investment
opportunities and the Company's facilities, which are unsecured, now consist
of the following:

·    a £25 million loan which was drawn in full on 29 July 2022 and fixed
for two years at an all-in rate of 3.5575%; and

·    a two year £50 million multi-currency revolving credit facility,
under which HKD491.9m has been drawn.

 

The Company's total borrowings now equate to £74.3 million in Sterling terms,
which gives a net gearing figure of 7.9% based on the Company's net asset
value at 14 March 2024.

 

END

 

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