Debt repayment and lower gearing level

RNS Number : 2224B

Merchants Trust PLC

29 January 2020

 

The Merchants Trust PLC

29 January 2020

Debt repayment and lower gearing level

The board is pleased to announce that today the company is repaying £16m of debt under its revolving credit facility.  This will take the company's total debt to £93m, and gearing to around 15%*.  The board and manager decided to reduce gearing after a period of strong equity market and portfolio returns.  The board's formal policy is unchanged and is to maintain gearing in the range of 10%-25% (measured at the time that any increase in total borrowing facilities is agreed).

*Unaudited

Enquiries:

Kirsten Salt

Company Secretary

0203 246 7513

 

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