Re-financing of Loan Facility

RNS Number : 8556X

F&C Private Equity Trust PLC

22 February 2012

 



To:                   RNS

Date:               21 February 2012

From:              F&C Private Equity Trust plc

Re-financing of Loan Facility

The Board of F&C Private Equity Trust plc ('the Company') is pleased to announce that, on 21 February 2012, the Company entered into a new £50 million unsecured committed multi-currency revolving credit facility with The Royal Bank of Scotland plc ('RBS'). The new facility expires on 21 February 2016 and contains similar covenants to the Company's previous £40 million facility with RBS which was due to expire on 30 April 2012 and which has been cancelled. 

The Board believes that this larger facility will provide greater flexibility for the Company to fund its investment activity. In addition, the Board is pleased to have secured a facility which, subject to compliance with covenants, will be more than sufficient to repay the Group's Zero Dividend Preference Shares on their maturity date in December 2014 and which extends comfortably beyond that maturity date.

For more information, please contact:

Hamish Mair (Investment  Manager)	0131 718 1184 [e-mail]
Gordon Hay Smith (Company Secretary)	0131 718 1018 [e-mail]

 

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