Further Drawdown on Revolving Loan Facility

Asia Dragon Trust PLC
18 March 2024
 

Asia Dragon Trust plc (the "Company")

Legal Entity Identifier (LEI):  549300W4KB0D75D1N730

Further Drawdown on Revolving Loan Facility

18 March 2024

Under the terms of the Company's existing multi-currency revolving credit facility with The Royal Bank of Scotland International Limited, London Branch (the Lender"), which was put in place on 29 July 2022, the Company has obtained an increased level of commitment from the Lender, from £35 million to £50 million.  

The Investment Manager has drawn down the equivalent of the additional £15 million in HKD, following the identification of suitable investment opportunities and the Company's facilities, which are unsecured, now consist of the following:

·    a £25 million loan which was drawn in full on 29 July 2022 and fixed for two years at an all-in rate of 3.5575%; and

·    a two year £50 million multi-currency revolving credit facility, under which HKD491.9m has been drawn. 

 

The Company's total borrowings now equate to £74.3 million in Sterling terms, which gives a net gearing figure of 7.9% based on the Company's net asset value at 14 March 2024.

 

END

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UK 100

Latest directors dealings