Schroder extends facility to 2021, cuts commitments to £112.9 million

By Sarah Lizee

Olympia, Wash., Dec. 13 – Schroder UK Public Private Trust plc agreed to an amendment to its existing credit facility, extending the term for 12 months to Jan. 15, 2021, according to a company announcement.

The commitment under the facility was reduced to £112.9 million, in line with the amount currently drawn under the facility and consistent with the company’s intention to reduce borrowings.

In addition, the borrowing base has been removed, providing the company with greater flexibility while it seeks to reduce gearing.

The annual interest rate remains Libor plus 150 basis points.

Schroder UK Public Private Trust, which was previously known as Woodford Patient Capital Trust plc, is an investment trust based in Devon, England.

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