15 Dec 2017 11:09
STANDARD LIFE UK SMALLER COMPANIES TRUST PLC15 DECEMBER 2017REVOLVING CREDIT FACILITYStandard Life UK Smaller Companies Trust plc ("the Trust") is pleased to announce it has drawn down £15m of the £20m Revolving Credit Facility it agreed with The Royal Bank of Scotland plc in November 2017. The facility is priced off 3 month LIBOR and means that, when combined with the five year, fixed term loan drawn in November 2017, the weighted average rate of the drawn borrowings will be around 1.94%.
The Portfolio Manager, Harry Nimmo, explained "The majority of our holdings are trading strongly. The year end has seen market fatigue partly as a result of the scale of new share issuance. This has given rise to significant value becoming apparent and provides investment opportunities for long-term investors, such as the Trust, to access high-quality companies at attractive valuations."
All enquiries:
Evan Bruce-Gardyne
Head of Investment Companies, Standard Life Investments Tel. 0345 600 2268