By Devika Patel
Knoxville, Tenn., April 7 – Scottish Mortgage Investment Trust plc said it agreed to raise a total of £125 million in long-term, fixed-rate, senior unsecured private placement notes. Santander Investment Securities Inc. is the agent.
The company will sell £105 million in the form of three notes: one 25-year 3.05% note for £45 million, one 27-year 3.3% note for £30 million and a 30-year 3.12% note for £30 million.
Proceeds from these notes will be used to retire, in part, an existing $165 million bank debt facility slated to mature in early April.
Further, the company has agreed to raise an additional £20 million through a 24-year 3.65% note to refinance its existing £20 million debenture when it matures in 2020.
The investment trust is based in Edinburgh, Scotland.
| Issuer: | Scottish Mortgage Investment Trust plc
|
| Issue: | Senior unsecured notes
|
| Amount: | £125 million
|
| Agent: | Santander Investment Securities Inc.
|
| Settlement date: | April 6
|
| Distribution: | Private placement
|
|
|
| 25-year note
|
| Amount: | £45 million
|
| Maturity: | 25 years
|
| Coupon: | 3.05%
|
|
|
| 27-year note
|
| Amount: | £30 million
|
| Maturity: | 27 years
|
| Coupon: | 3.3%
|
|
|
| 30-year note
|
| Amount: | £30 million
|
| Maturity: | 30 years
|
| Coupon: | 3.12%
|
|
|
| 24-year note
|
| Amount: | £20 million
|
| Maturity: | 24 years
|
| Coupon: | 3.65%
|
|
|
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