Bank Loan Facility

RNS Number : 3894C
Troy Income & Growth Trust Plc
13 April 2017
 

 

 

 

To:                   RNS

From:              Troy Income & Growth Trust plc

Date:               13 April 2017

 

 

 

Bank Loan Facility

 

The Board of Troy Income & Growth Trust plc ("the Company") is pleased to announce that the Company has entered into a two year unsecured floating rate revolving credit facility, for £20 million, with ING Luxembourg S.A. The facility bears interest at 0.90 per cent over LIBOR and is for the acquisition of investments in accordance with the Company's investment policy and for general corporate purposes.

 

As stated in the Company's 2016 Annual Report, the Board and Manager intend to gear the portfolio on a tactical basis as and when compelling equity valuation levels are presented. The ING facility will not be put to immediate use but provides an efficient and cost effective means of providing gearing at appropriate times.

 

 

Steven Cowie

Company Secretary


Enquires 0131 538 6604


This information is provided by RNS
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