REG - Baillie Gifford Euro - Issue of Debt
RNS Number : 8306GBaillie Gifford European Grw Ts PLC30 November 2020Baillie Gifford European Growth Trust plc
Legal Entity Identifier: 213800QNN9EHZ4SC1R12
Regulated Information Classification: Additional regulated information required to be disclosed under applicable law
Baillie Gifford European Growth Trust plc raises €30m of long-term debt
Baillie Gifford European Growth Trust plc announces that it has agreed to issue €30 million of long-term, fixed rate, senior, unsecured privately placed notes providing the Company with long-term financing at a very attractive rate.
The new privately placed notes are being issued in one tranche: €30 million with a fixed coupon of 1.57% to be repaid 8 December 2040. The coupon will be payable semi-annually. The funding date is 8 December 2020.
In order to facilitate the additional borrowings, the Board has agreed to cap any drawings from The Northern Trust Company overdraft facility at €15 million. The aggregated €45 million of available borrowings provides scope for invested borrowing to go to 8.5% of shareholders' funds as at 27 November 2020.
Baillie Gifford & Co Limited
Managers and Secretaries
30 November 2020
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 or visit 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.ENDIODFEWFWWESSEDF
Recent news on Northern Trust
See all newsREG - Caracal Energy Inc. - Holding(s) in Company
AnnouncementREG - NCC Group PLC - Holding(s) in Company
AnnouncementREG - Residential Secure - Holding(s) in Company
AnnouncementREG - abrdn China Inv.Co. - Holding(s) in Company
AnnouncementREG - Residential Secure - Holding(s) in Company
Announcement