Fixed Rate Borrowing

RNS Number : 3688V

JPMorgan Claverhouse IT PLC

02 November 2017

 

LONDON STOCK EXCHANGE ANNOUNCEMENT

JPMORGAN CLAVERHOUSE INVESTMENT TRUST PLC

Fixed Rate Borrowing

The Board of the Company announces that it has agreed to issue £30m fixed rate 25 year unsecured notes (the "Notes") at an annualised coupon of 3.22%.

The funding date is expected to be 30th March 2020, the date of the maturity of the 7% debenture 30th March 2020 and the Notes are due to be repaid on 30th March 2045.

The Board has agreed now to issue the Notes at a future date in order to take advantage of current market conditions which have enabled a reduction in the Company's future cost of debt. 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 Investment Managers' permitted gearing range, as previously set by the Board, of 5% cash to 20% geared.

2nd November 2017

For further information:

Faith Pengelly

JPMorgan Funds Limited                     020 7742 4000

 

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