Fixed Rate Borrowing

RNS Number : 4044B

JPMorgan Global Growth & Income PLC

09 January 2018

 

JPMORGAN GLOBAL GROWTH & INCOME PLC

(the 'Company')

LONDON STOCK EXCHNGE ANNOUNCEMENT

Fixed Rate Borrowing

Legal Entity Identifier: 5493007C3I0O5PJKR078

The Board of the Company announces that it has agreed to issue £30m fixed rate 30 year unsecured notes (the "Notes") at an annualised coupon of 2.93%.

The funding date is today, 9th January 2018 and the Notes are due to be repaid on 9th January 2048.The current £25m revolving credit facility with National Australia Bank is will be repaid on the 11th January 2018.

The Board has agreed to issue the Notes to take advantage of current market conditions which are considered to offer an attractive level of long term gearing. 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, to limit gearing within the range of 5% net cash to 20% geared in normal market conditions.

9th January 2018

For further information please contact:

Divya Amin

JPMorgan Funds Limited                     020 7742 4000

 

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