REG - Witan Inv Tst PLC - Early Redemption of 6.125% 2025 Secured Bonds

Witan Investment TrustAnnouncement

11/05/2020 17:15

RNS Number : 5485M
  
Witan Investment Trust PLC
  
11 May 2020
  
 

 
Witan Investment Trust plc ("Witan" or the "Company")
11 May 2020
Confirmation of early Redemption of 6.125% 2025 Secured Bonds (the "Secured Bonds").
Further to the announcement on 25 March 2020, Witan confirms that all of the outstanding Secured Bonds are being redeemed today, 11 May 2020. The total redemption price (including accrued interest) has been calculated in accordance with the terms of the trust deed in respect of the Secured Bonds as being £87,346,983 and payments are in the process of being made to all holders of the Secured Bonds. 
The redemption is being funded from existing cash resources and, as previously noted, is expected to result in savings (in terms of interest payments) for the Company. It will also, particularly in current volatile conditions, enable the Company to make greater use of low-cost short-term borrowings repayable at will.
All of the redeemed Secured Bonds will be cancelled.  The listing of the Secured Bonds on the Official List of the FCA and its trading on the Main Market of the London Stock Exchange has been cancelled with effect from 8.00 a.m. today, 11 May 2020.
 
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For further information please contact:
 
Andrew Bell, Chief Executive Officer
Witan Investment Trust plc
Tel: 020 7227 9770
Andrew.Bell@witan.co.uk
 
 
 
 


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