Baillie GiffordJapan - Issue of Debt
24/07/2024 16:42
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240724:nRSX7152Xa&default-theme=true
RNS Number : 7152X Baillie Gifford Japan Trust PLC 24 July 2024
The Baillie Gifford Japan Trust PLC (BGFD)
Legal Entity Identifier: 54930037AGTKN765Y741
The Baillie Gifford Japan Trust PLC raises JPY12 billion of debt
The Baillie Gifford Japan Trust PLC ('the Company' or 'Japan Trust') announces
that it has issued JPY12 billion of fixed rate, senior, unsecured privately
placed notes ("the Notes") split into three tranches of JPY4 billion, maturing
in 5, 10 and 14 years from the funding date of 20 November 2024. This
transaction provides the Company with medium-term financing at a range of
maturities and a competitive average interest rate of 2.05%. The proceeds of
the Notes will be used to repay existing bank debt of JPY9.3 billion maturing
in November 2024 and JPY2.6 billion maturing in March 2025.
The Board remains in favour of the strategic use of borrowings for the Company
in order to enhance returns to shareholders over the long term. This new
financing will maintain availability of gearing capacity for Japan Trust and
fixes the cost of borrowing for an extended period, providing certainty.
The Notes have been issued in three tranches of JPY4 billion with the
following fixed coupons:
- 1.56% to be repaid on 20 November 2029; 2.05% to be repaid on 20
November 2034; and 2.55% to be repaid on 20 November 2038.
- Coupons will be payable semi-annually.
Centrus Financial Advisors Limited acted as sole placement agent for the
transaction.
Baillie Gifford & Co Limited
Managers and Secretaries
24 July 2024
Regulated Information Classification: Additional regulated information
required to be disclosed under applicable law.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END IODSEFFILELSELW