By Devika Patel
Knoxville, Tenn., Oct. 24 – Temple Bar Investment Trust plc said it plans a £25 million private placement of 30-year 2.99% notes.
The notes will be secured by a floating charge over the company's assets.
J.P. Morgan Cazenove was the agent.
The purpose of this placement is to secure long-term sterling-denominated debt financing at an attractive rate for the company ahead of its Dec. 31, 2017 repayment of the £25 million 9.875% debenture stock.
This issuance also extends the company’s weighted average debt maturity profile and lowers its weighted average cost of debt.
The investment trust is based in London.
| Issuer: | Temple Bar Investment Trust plc
|
| Issue: | Senior notes
|
| Amount: | £25 million
|
| Maturity: | Oct. 24, 2047
|
| Agent: | J.P. Morgan Cazenove
|
| Coupon: | 2.99%
|
| Settlement date: | Oct. 24
|
| Distribution: | Private placement
|
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