(Alliance News) -Â Keystone Investment Trust PLC on Monday said it has redeemed all of its outstanding 7.75% debenture stock 2020 and outstanding 6.5% bonds 2023.
The stock and bond redemption was funded from a new GBP45 million committed revolving credit facility provided by the Bank of New York Mellon, London Branch.
Chair Karen Brade said: "We are pleased to have completed the refinancing of the company's debt, which introduces more flexible and lower cost borrowings."
Shares were down 14% at 226.00 pence in London on Monday.
By Lucy Heming;Â lucyheming@alliancenews.com
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