Baillie Gifford Japan Trust PLC Issue of Debt
25 July 2024 - 1:42AM
RNS Regulatory News
RNS Number : 7152X
Baillie Gifford Japan Trust PLC
24 July 2024
The Baillie Gifford Japan
Trust PLC (BGFD)
Legal
Entity Identifier: 54930037AGTKN765Y741
The
Baillie Gifford Japan Trust PLC raises JPY12 billion of
debt
The Baillie Gifford Japan Trust PLC
('the Company' or 'Japan Trust') announces that it has issued JPY12
billion of fixed rate, senior, unsecured privately placed notes
("the Notes") split into three tranches of JPY4 billion, maturing
in 5, 10 and 14 years from the funding date of 20 November 2024.
This transaction provides the Company with medium-term financing at
a range of maturities and a competitive average interest rate of
2.05%. The proceeds of the Notes will be
used to repay existing bank debt of JPY9.3 billion maturing in
November 2024 and JPY2.6 billion maturing in March 2025.
The Board remains in favour of the
strategic use of borrowings for the Company in order to enhance
returns to shareholders over the long term. This new financing will
maintain availability of gearing capacity for Japan Trust and fixes
the cost of borrowing for an extended period, providing
certainty.
The Notes have been issued in three
tranches of JPY4 billion with the following fixed
coupons:
- 1.56% to
be repaid on 20 November 2029; 2.05% to be repaid on 20 November
2034; and 2.55% to be repaid on 20 November 2038.
- Coupons
will be payable semi-annually.
Centrus Financial Advisors Limited
acted as sole placement agent for the transaction.
Baillie
Gifford & Co Limited
Managers and
Secretaries
24 July 2024
Regulated Information
Classification: Additional regulated
information required to be disclosed under applicable
law.
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