New Loan Facility

RNS Number : 1308A

North American Income Trust (The)

21 December 2017

 

21 December 2017

The North American Income Trust plc (the "Company")

Legal Entity Identifier (LEI):  5493007GCUW7G2BKY360

New loan facility

The Company announces that it has entered into a new $75 million 3 year unsecured multi-currency revolving credit loan facility agreement with Scotiabank (Ireland) Designated Activity Company (the "New Facility").  The total amount available under the Facility is $75 million of which $50 million is initially committed and available to the Company, with an uncommitted accordion option for an additional $25 million to be made available on request during the life of the loan.

The Company has drawn down $50 million with value date 21 December 2017. 

The Company continues to believe that sensible use of modest financial gearing will enhance returns to shareholders over the longer term.

The New Facility replaces the Company's previous loan facility agreement of $51,045,000 with State Street Bank and Trust Company which was repaid with value date 21 December 2017. 

For further information please contact:

Aberdeen Asset Management PLC

Secretaries

Telephone: [phone]

 

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