Renewal of Loan Facilities

RNS Number : 0758R

Aberdeen Asian Income Fund Limited

03 March 2021

 

ABERDEEN ASIAN INCOME FUND LIMITED (the "Company")

LEI Identifier: 549300U76MLZF5F8MN87

Renewal of Loan Facilities

3 March 2021

The Company announces that it has renewed both its three-year £10 million term facility (the "term facility") and its 1 year £40 million revolving credit facility ("revolving credit facility") with Bank of Nova Scotia, London Branch ("the Lender"), on an unsecured basis, for three years.

Under the terms of the revolving credit facility, the Company also has the option to increase the level of the commitment from £40 million to £60 million at any time, subject to the identification by the Manager of suitable investment opportunities and the Lender's credit approval.

£10,000,000 has been drawn down under the term facility and fixed for three years at an all-in rate of 1.53%.

Under the revolving credit facility, HKD73.5 million, US$ 19 million and GBP4.9 million has been drawn down at all-in rates of 1.3225%, 1.3185% and 1.248% respectively.

Taking account of both loans, the Company's total gearing currently amounts to the equivalent of £35.4 million or 8% of the net asset value of the Company (based on unaudited net assets as at the close of business on 1 March 2021).

 

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