By Lisa Kerner
Charlotte, N.C., May 14 – RIT Capital Partners plc priced £151 million of fixed-rate unsecured notes on April 22.
The notes have maturities of 10, 15 and 20 years and a weighted average of about 16 years.
The notes pay interest semiannually at coupons of between 3% and 3.56%, with a weighted average of 3.45%, according to a company news release.
Funding is expected to be June 1.
Proceeds will be used to repay existing floating rate, short-term credit facilities.
J.P. Morgan Cazenove acted as sole placement agent.
RIT Capital is a London-based investment trust.
| Issuer: | RIT Capital Partners plc
|
| Issue: | Unsecured notes
|
| Amount: | £151 million
|
| Coupon: | 3% to 3.56%, with weighted average of 3.45%
|
| Maturity: | 10, 15 and 20 years, with weighted average of 16 years
|
| Distribution: | Private placement
|
| Priced: | April 22
|
| Settlement: | June 1
|
| Agent: | J.P. Morgan Cazenove
|
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