Doc re. Fixed Rate Borrowing

RNS Number : 7881S

Henderson Smaller Cos Inv Tst PLC

21 March 2016

 

HENDERSON INVESTMENT FUNDS LIMITED  

THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC

21 March 2016

THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC ("the Company")

Fixed Rate Borrowing

The Board of the Company announces that it has agreed to issue £30m fixed rate 20 year unsecured private placement notes (the "Notes") at an annualised coupon of 3.33%.

This transaction will obtain fixed rate long dated Sterling denominated financing at pricing that the Company considers attractive and is expected to enhance long term investment performance.

The funding date is expected to be 23 May 2016, subject to customary closing conditions, with interest payable semi-annually.  The Notes are due to be repaid in 2036.

Additionally, the issue anticipates the due repayment of the Company's £20m 10.5% Debenture Stock on 31 May 2016.

The Notes will be unsecured which gives the Company increased flexibility to manage its borrowings in the future.  

There has been no change in the Company's policy on gearing, as set out on page 4 of the 2015 Annual Report.

Enquiries:

Henderson Global Investors                                                                                Tel: [phone]

James de Sausmarez                                                                                 

Neil Hermon

Disclaimer

The Notes have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Act") and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act. This notice is for information only, does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

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