By Devika Patel
Knoxville, Tenn., Sept. 30 – The Edinburgh Investment Trust plc plans a £120 million private placement of senior unsecured notes in four parts, according to a press release.
The £35 million 2.26% note is due in 2037 and will settle on Sept. 29, 2022.
The £35 million 2.49% note is due in 2047 and will also settle on Sept. 29, 2022.
The £20 million 2.53% note is due in 2051 and will settle on Oct. 7.
The £30 million 2.53% note is due in 2057 and will also settle on Sept. 29, 2022.
Three tranches, totaling £100 million, will settle on Sept. 29, 2022. The proceeds of these notes will be used to repay the company's £100 million of 7.75% debentures which mature on Sept. 30, 2022. A fourth tranche of £20 million is new debt and will settle on Oct. 7.
The weighted average cost of the notes will be 2.44%.
The investment trust company is based in Edinburgh, Scotland.
| Issuer: | Edinburgh Investment Trust plc
|
| Issue: | Senior unsecured notes
|
| Amount: | £120 million
|
| Distribution: | Private placement
|
|
|
| 2037 tranche
|
| Amount: | £35 million
|
| Maturity: | 2037
|
| Coupon: | 2.26%
|
| Settlement date: | Sept. 29, 2022
|
|
|
| 2031 tranche
|
| Amount: | £35 million
|
| Maturity: | 2047
|
| Coupon: | 2.49%
|
| Settlement date: | Sept. 29, 2022
|
|
|
| 2051 tranche
|
| Amount: | £20 million
|
| Maturity: | 2051
|
| Coupon: | 2.53%
|
| Settlement date: | Oct. 7
|
|
|
| 2057 tranche
|
| Amount: | £30 million
|
| Maturity: | 2057
|
| Coupon: | 2.53%
|
| Settlement date: | Sept. 29, 2022
|
|
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